ICG Commerce Enters Into Agreement to Provide Comprehensive Procurement Services to Vought Aircraft Industries
Aerospace Manufacturer Selects Procurement Services Provider to Achieve Measurable Savings and Standardize Procure-to-Pay Processes
PHILADELPHIA - Monday, August 30, 2004 - ICG Commerce, a leading procurement services provider, today announced
that it has been engaged to provide procurement process management services and technology to Vought Aircraft
Industries, Inc., one of the world's largest independent suppliers of aerostructures.
ICG Commerce will provide Vought with a broad suite of services, from sourcing to purchase-to-pay processing, to
ongoing category management, across forty purchasing categories. These categories, which include sixteen groups of
service-related purchases, make up a majority of the company's non-production products expenditures. Vought will
leverage ICG Commerce's integrated procurement infrastructure, which includes deep category sourcing experts; a
best-practice-based Buying Center; and RealExchange SM, a comprehensive technology platform for the purchasing of
both goods and services. ICG Commerce also will supply a dedicated onsite procurement team to ensure the seamless
delivery of services to Vought.
ICG Commerce is a procurement services provider committed to helping companies maximize and realize procurement
cost savings and efficiencies through a flexible range of services including sourcing, purchase-to-pay automation and
outsourcing. The company is considered to be at the forefront of procurement outsourcing, managing a broad scope of
activities and expenditures for more than a dozen leading companies. As industry expert Julie Murphree recently stated,
ICG Commerce is considered one of the key leaders in procurement BPO, which has been noted as the "hot" topic in
the market today.
"As a company we want to ensure our resource investment is in our core competencies. The order management of non-
production goods and services does not fall in that category. Through ICG Commerce we expect to gain hard-dollar
cost reductions, process efficiency and product standardization," said Daniel Smartis, Vought Vice President, Materiel.
"By leveraging ICG Commerce's experience and full range of services, we expect measurable, bottom-line savings."
Under the agreement, ICG Commerce will provide procurement services to Vought. "As an innovative design and
manufacturing supplier to the world's prime aircraft manufacturers, Vought not only understands the importance of
world-class procurement but also the value of partnering with specialists to achieve objectives," said Edward H. West,
chairman and CEO of ICG Commerce. "We look forward to helping the company achieve procurement performance
and cost savings objectives while they continue to focus on their strategic initiatives."
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About ICG Commerce, Inc.
ICG Commerce is a leading Procurement Services Provider exclusively focused on helping companies buy more
effectively and efficiently in order to reduce costs significantly and continuously. The company offers an unmatched
combination of process and category expertise and hosted technology to deliver Sourcing, Purchase-to-Pay Automation
and Outsourcing Services. ICG Commerce Inc., a privately held company founded in 1992, is a member of Internet
Capital Group's (Nasdaq: ICGE) network of partner companies and has been honored as one of Forbes' 'Best of the
Web: B2B', UPSIDE Magazine's 'Hot 100' and as an iSource 100 company.
About Vought
Vought Aircraft Industries, Inc. (www.voughtaircraft.com) is one of the world's largest independent suppliers of
aerostructures. Headquartered in Dallas, the company designs and manufactures major airframe structures such as
wings, fuselage subassemblies, empennages, nacelles and other components for prime manufacturers of aircraft.
Vought has annual sales of approximately $1.2 billion and more than 6,000 employees in seven U.S. locations.
Contacts:
Kristen Knouft
ICG Commerce
484-690-5000
kknouft@icgcommerce.com
Brittany Morris
Ruder-Finn
312-329-3983
morrisb@ruderfinn.com
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