Global Procurement Group Ltd. Selects Elcom's PECOS System to Provide Global Automated Procurement Exchange
January 13 2005 - 2:00AM
PR Newswire (US)
Global Procurement Group Ltd. Selects Elcom's PECOS System to
Provide Global Automated Procurement Exchange Global Procurement
Group Ltd. Targets Small to Medium Enterprises with eProcurement
Management Solution NORWOOD, Mass., Jan. 13 /PRNewswire-FirstCall/
-- elcom, inc., the wholly- owned B2B eCommerce solutions
subsidiary of Elcom International, Inc. (OTC Bulletin Board: ELCO
and AIM: ELC and ELCS), today announced that Global Procurement
Group Ltd., the wholly-owned subsidiary of Global Procurement Group
Inc., has selected PECOS, Elcom's remotely-hosted eProcurement and
eMarketplace system, to provide a global sourcing platform to power
Global Procurement Group's Automated Procurement Exchange
(g-APEx(TM)). Elcom will provide Global Procurement Group, Ltd.
(GPG) with a hosted solution that includes eProcurement,
eMarketplace, and access to Elcom's Dynamic Trade Centre, which
will enable GPG and its affiliates to automate their clients'
procurement process from sourcing through financial settlement. GPG
plans to initially deploy its Automated Procurement Exchange in the
United Kingdom and subsequently in the United States, France and
Germany, to service the procurement needs of Small to Medium
Enterprises (SMEs) in those markets. George W. Edwards, GPG's Group
Chief Executive Officer, said "GPG offers a unique holistic
automated procurement management methodology which systematically
optimizes the needs, economics and efficiencies of organizations
with a turnover of up to #100 million (SMEs) as well as suppliers.
SMEs using g-APEx will benefit from net credit savings which will
positively impact an SME's bottom line profits, as well as
producing cost savings and increasing efficiencies in purchasing
and order processing." Mr. Edwards also stated, "GPG will market
g-APEx(TM) the in the UK through licensed consultancy practices
(Affiliates) who wish to add value to their existing SME clients.
We are pleased to have Elcom provide the core eProcurement and
eMarketplace technology and hosting services that will power
g-APExTM. Our g-APExTM system will enable our supplier Affiliates
to combine best of breed technology with the procurement best
practices required to deliver real savings to both buyers and
suppliers." Vincent A. Hillsdon, Global Procurement Group Inc.'s
Chairman said, "We are delighted to be working with Elcom
International, Inc. By using their robust and proven eProcurement
technology, combined with our supplier agreements, we can deliver
the procurement power of size and scale to SMEs, allowing them to
achieve the buying power of large corporations. This is a true
synergistic situation for Suppliers and Buyers with demonstrable
savings that will generate incremental savings and add to the
profitability for SMEs." Robert J. Crowell, Elcom International,
Inc.'s Chairman and CEO, said, "We are pleased to work with GPG and
believe its model to provide SMEs with a PECOS based Automated
Procurement Exchange is a concept whose time has come. Since our
inception in 1992, Elcom has focused on providing a best of breed
eProcurement system, and now with eMarketplace and other
capabilities, we see an excellent fit for GPG as they begin rolling
out their g-APExTM system for SMEs." This agreement is contingent
upon the Company receiving additional funding by the end of the
first quarter of 2005. About Elcom International, Inc. Elcom
International, Inc. (OTC:ELCOOTC:andOTC:AIM:OTC:ELCOTC:and ELCS)
(BULLETIN BOARD: ELCO and AIM: ELC and ELCS) , operates elcom,
inc., an international B2B Commerce Service Provider offering
affordable solutions for buyers, sellers and commerce communities
to conduct business online. PECOS, elcom's remotely-hosted flagship
solution, enables enterprises of all sizes to achieve the many
benefits of B2B eCommerce without the burden of infrastructure
investment and ongoing content and system management.
http://www.elcominternational.com/ Company Product Offerings For
detailed information on our PECOS(TM) eMarketplace and eProcurement
and optional Dynamic Trading solutions, please visit our website at
http://www.elcominternational.com/products.htm About Global
Procurement Group, Ltd. Global Procurement Group Ltd., a wholly
owned subsidiary of Global Procurement Group Inc. is an innovative
company which specializes in creating and perfecting methods and
systems for the management of non-core procurement of goods and
services for Small to Medium Enterprises (SMEs) -- satisfying the
continuous need for cost management, improved supply planning and
greater profitability to all parties to the process. STATEMENT
UNDER THE PRIVATE SECURITIES LITIGATION REFORM ACT Except for the
historical information contained herein, the matters discussed in
this press release may include forward-looking statements or
information. All statements, other than statements of historical
fact, including, without limitation, those with respect to the
Company's objectives, plans and strategies set forth herein and
those preceded by or that include the words "believes," "expects,"
"given," "targets," "intends," "anticipates," "plans," "projects",
"forecasts" or similar expressions, are forward-looking statements.
Although the Company believes that such forward-looking statements
are reasonable, it can give no assurance that the Company's
expectations are, or will be, correct. These forward-looking
statements involve a number of risks and uncertainties which could
cause the Company's future results to differ materially from those
anticipated, including: (i) the Company's history of ongoing
operating losses; (ii) the overall marketplace and clients'
acceptance and usage of eCommerce software systems, including
corporate demand therefor, the impact of competitive technologies,
products and pricing, particularly given the substantially larger
size and scale of certain competitors and potential competitors,
control of expenses, revenue generation by the acquisition of new
customers, the acceptance of the eProcurement Scotland program by
public entities, and corporate demand for eProcurement and
eMarketplace solutions; (iii) the consequent results of operations
given the aforementioned factors; and (iv) the requirement for the
Company to raise additional working capital to fund operations no
later than the first quarter of 2005 and the availability and terms
of any such funding to the Company. Without any such funding, the
Company believes it may be forced to curtail operations, and if no
alternative to financing, such as a merger or acquisition is
consummated, the Company may have no option but to seek protection
under bankruptcy laws. Other risks are detailed from time to time
in the Company's 2003 Annual Report on Form 10-K, as amended, its
Quarterly Reports on Form 10-QSB for the quarterly periods ended
March 31, June 30, and September 30, 2004, and in its other SEC
reports and statements. The Company assumes no obligation to update
any of the information contained or referenced in this press
release. Company Contact: Investor Relations e-mail: DATASOURCE:
elcom, inc. CONTACT: Investor Relations of Elcom International, Web
site: http://www.elcom.com/
http://www.elcominternational.com/products.htm
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