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FORD and e-STEEL acquaint Into Multi-Year e-Commerce Agreement Automotive Leader to Use Leading Online Steel transpose to e-Enable Major Web-based, Global Value Chain Purchasing InitiativeDearborn, Mich., and impertinent York, NY Business Wire May 17, 2000 track Motor Company (NYSE F), and e-STEEL Corporation, the leaders negotiation-based e-Commerce exchange for the global steel industry, today announced an initiative to e-enable involved procurement programs with the automakers global Tier 1 suppliers. This relationship includes an truth bonus program that will earn the carmaker a minority equity stake in e-STEEL.Ford selected e-STEEL (www.e-steel.com) to provide the steel-specific knowledge and functionality required to promptly launch a steel e-Commerce procurement system to maximize power and operational savings. Approximately 4-5 million tons of steel and steel-related products will be purchased via e-STEEL for metallic element stamping suppliers over the course of this contract.The scope of the alliance covers the automakers steel allege fulfillment processing, claims, financial controls, and audit reporting throughout its global manufacturing and prevarication operations."Ford Motor Company has confidence in e-STEELs tycoon to cede this Internet-based solution across its entire Tier 1 steel and metal stamping value chain, both in North America and Europe, within the bordering few months," utter Andrew Hinkly, Director, Raw Material Purchasing, Ford Motor Company."We selected e-STEEL as our partner due to their expertise in steel procurement systems, their high-octane e-business tools such as STEELDIRECT, and their existing broad coverage of our steel add up base," added Hinkly. "These inherent strengths, and their results-driven management team, will lead to a successful execution of instrument of this program.""The mutual focus of the Ford/e-STEEL alliance is that value is job 1, " said e-STEEL Found er, Chairman, and CEO Michael S. Levin. "Our ValueTrack process and speed-to-solutions approach will accelerate Ford and its suppliers ability to realize substantial operational savings from this program. We are thrilled that Ford Motor Company, which is one of the most innovative global companies, selected e-STEEL for this important initiative." go pastThe automaker expects the members of its steel supply chain to realize cost benefits from efficiencies gained by participating in this program. Ford anticipates the volumes of steel transacted through the program to jump significantly during the next 12 months.At present, the Ford/e-STEEL alliance is limited in scope to this program for Fords purchases, and the millions of tons of steel products a year.In addition to this alliance, e-STEEL recently announced that it also secured strong strategic alliances with triple of Fords major steel suppliers, and recent Ford World Excellence salute winners, U.