CarrierPoint Expands Its Reach to Latin America
B2B E-commerce Company Forms Strategic Alliance With
NetLogistiK.com
ATLANTA, GA, April 20, 2000 /BusinessWire/
CarrierPoint, a business-to-business electronic commerce
company where shippers and carriers meet to fulfill
less-than-truckload (LTL) and full truckload shipments,
has expanded its reach to Latin America by licensing
its proprietary software to NetLogistiK.com,
an online logistics marketplace focusing on Mexico,
Central and South America.
According to the agreement, CarrierPoint will license
its software to NetLogistiK.com in exchange for an equity
stake in the company. Leveraging CarrierPoint's technology
will greatly reduce NetLogistiK.com's time-to-market.
NetLogistiK.com will focus its initial efforts on major
Latin American markets including Mexico, Argentina,
Brazil and Chile. Once well established in these markets,
the company will expand throughout Latin America.
"CarrierPoint's alliance with NetLogistiK.com is the
first step in creating a true global trading platform
for the shipping industry," said Brian Kinsey, president
and chief executive officer of CarrierPoint. "Through
our interest in NetLogistiK.com, we have taken a major
step in establishing CarrierPoint as the global leader
in Internet-based transportation logistics."
NetLogistiK.com is led by David Silberstein and German
Hornstein, both alumni of consulting firm McKinsey &
Company. The company's executive team also includes
experts in the transportation and logistics industries
with extensive knowledge of Latin American markets.
"We think that the partnerships, and the strategic
alliance with CarrierPoint will provide us with a clear
competitive advantage by reducing our time-to-market
and giving us access to state-of-the-art technology,"
said Aksel Reynoso, managing director of NetLogistiK.com.
Currently, the $60 billion Latin American freight transportation
market is fragmented and inefficient. The top 10 carriers
have less than 2% market share. Shippers need to rely
on several carriers to fulfill their shipping needs
and there is no efficient way to contract and compare
shipping services.
"Latin America is an incredibly large, untapped market
that will benefit greatly from e-commerce," Kinsey continued.
"Shippers and carriers will now be able to negotiate
loads spanning North America and Latin America in one
seamless marketplace."
NetLogistiK.com has already established partnerships
with leading carriers, shippers and B2B vertical exchanges.
NetLogistiK.com is currently exploring different alternatives
to provide a solution that will integrate the railroad
and trucking systems throughout Latin America.
CarrierPoint is significantly differentiated from its
online competition in that it offers a balanced value
proposition to both shippers and carriers. By negotiating
loads in a real time environment, shippers enjoy true
marketplace pricing and substantial process improvements.
Carriers improve asset utilization and reduce empty
miles. In addition, unlike auction sites, CarrierPoint
is a multi-variant exchange where price is one of several
factors in deciding which carrier will move a shipper's
freight. Other factors include a carrier's safety rating,
cargo claims and on-time delivery record.
CarrierPoint, Inc., based in Atlanta, Ga., is an Internet
company committed to creating an open marketplace where
shippers and carriers can meet to fulfill truckload
and less-than-truckload shipments. Through the use of
electronic commerce and advanced communications technology,
CarrierPoint's mission is to improve the efficiency
and effectiveness of freight shippers and carriers by
creating a virtual community and marketplace that facilitates
a real-time market for open shipments in the trucking
industry. Additional information on CarrierPoint can
be found on its web site at www.carrierpoint.com.
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