OGCbuying.solutions Has Announced its Intent to Enter into a Framework Agreement with PA Shared Services Ltd.
June 15 2005 - 3:00AM
PR Newswire (US)
OGCbuying.solutions Has Announced its Intent to Enter into a
Framework Agreement with PA Shared Services Ltd. Elcom to Provide
its PECOS eMarketplace System for the U.K.'s Zanzibar eMarketplace
NORWOOD, Mass., June 15 /PRNewswire-FirstCall/ -- Elcom
International, Inc. (OTC:ELCOOTC:andOTC:AIM:OTC:ELCOTC:andOTC:ELCS)
(BULLETIN BOARD: ELCO and AIM: ELC and ELCS) , today announced that
the Company has been informed that OGCbuying.solutions has
announced its intent to award the Zanzibar service contract to PA
Shared Services Ltd. PA Shared Services Ltd. ("PA") is a wholly
owned subsidiary of PA Consulting Group to manage the consortium
that will create and operate the Zanzibar services. PA is the
primary contractor, with Elcom providing the eProcurement,
eMarketplace and catalogue content components of the Zanzibar
eMarketplace system to PA along with several other consortium
members. This intent to enter into a Framework Agreement is subject
to the newly promulgated 10-calendar day Alcatel waiting period.
The signing of a back-to-back agreement between Elcom and PA is
subject to Elcom's funding as discussed herein. Robert J. Crowell,
Elcom International, Inc.'s Chairman and CEO said, "The Zanzibar
service is a very sophisticated and very large scale eMarketplace
available to all the Public Sector Bodies in the U.K. We are
extremely pleased and look forward to being able to work with PA in
delivering this strategic solution. As UK public sector
organizations joining Zanzibar will not have to go out to tender in
order to implement the system, we expect Zanzibar to receive a very
positive reception and believe it will evolve into one of the
largest eMarketplace in the world."
http://www.ogcbuyingsolutions.gov.uk/zanzibar/zanzibar_announcement.asp
Zanzibar is an eProcurement system that offers 3 features: * an
electronic marketplace containing details of Public Sector supplier
contracts * a Purchase to Pay solution * a pan-UK Public Sector
data warehouse Zanzibar will provide a 'Procure to Pay',
eMarketplace operated by PA, including an eHub (data warehouse,
single point of access to the government marketplace for buyers and
suppliers), hosted common and individual catalogues and 'punch out'
to catalogues as well as non-catalogue transactions. Zanzibar will
be documented via an OGCbuying.solutions Framework Agreement and
run as a Managed Service on behalf of U.K. Government departments
and agencies, which are expected to join as individual agencies.
The signing of a back-to-back contract with PA is contingent upon
Elcom securing strategic funding, which cannot be consummated until
after the Company's Annual General Meeting ("AGM") on 29 June 2005.
The Company intends to raise funding to improve its balance sheet
and increase its working capital via the issuance of shares to be
listed on the AIM exchange in London. One of the items to be voted
on by the Company's shareholders is to authorize additional common
shares for the Company to enable Elcom to have enough shares to
issue to the (potential) purchasers of its shares to be listed on
the AIM. The Company is seeking, and must also consummate tactical
funding during June, prior to the AGM, in order to continue to
operate. Accordingly, there can be no assurance that a back-to-back
agreement with PA will be signed or that the Company's issuance of
shares will be consummated. About OGCbuying.solutions
OGCbuying.solutions is an Executive Agency of the U.K. Government's
Office of Government Commerce, in HM Treasury. Our role is to
deliver value for money gains for central civil government and the
wider public sector through our dedicated, professional procurement
service. We provide our customers with a full range of products and
services designed to encourage effective procurement, achieve
measurable cost savings and improve the efficiency of the
purchasing function throughout the public sector. Additional
Information can be found at http://www.ogcbuyingsolutions.gov.uk/
About PA Consulting Group PA Consulting Group is a leading
management, systems and technology consulting firm. Operating
worldwide in more than 35 countries, PA draws on the knowledge and
experience of 3,000 people, whose skills span the initial
generation of ideas, insights and solutions all the way through to
detailed implementation. PA focuses on creating benefits for
clients rather than merely proposing them. Our work is founded on
powerful insights into our clients' issues, and in the private
sector in particular, on the need to deliver superior shareholder
returns. We help accelerate business growth by developing
innovative products for our clients and by the application of
emerging technology. We deliver major transformation programs,
mobilize human resources, and manage complex IT and
technically-challenging programs. PA's results-focused approach is
founded on a unique commitment to excellence, value and
independence. Additional information can be found at
http://www.paconsulting.com/ Contact at PA: Tom Barton Government
Services Group +44 20 7312 4636 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 ("Elcom"), an international B2B Commerce Service
Provider offering affordable solutions for buyers, sellers and
commerce communities to automate many or all of their purchasing
processes and 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/ Statement Under the
Private Securities Litigation Reform Act Except for the historical
information contained herein, the matters discussed in this press
release could 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,"
"targets," "intends," "anticipates," "plans," 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 necessity to obtain additional tactical financing or
customer advance payments to continue to operate during June 2005
and the availability of any such funding to the Company,
particularly in light of the Company's $67,000 balance of cash and
cash equivalents at March 31, 2005 and its history of ongoing
operating losses; (ii) the Company's need to raise significant
strategic capital, most likely via the offer and sale of common
stock to be listed on the AIM upon authorization of additional
shares of common stock at the Company's AGM on June 29, 2005, (iii)
the overall marketplace and client's acceptance and usage of
eCommerce software systems, eProcurement and eMarketplace solutions
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, and control of expenses, revenue growth;
(iv) the consequent results of operations given the aforementioned
factors; and (v) and other risks detailed from time to time in the
Company's Annual Reports on Form 10-KSB, Quarterly Reports on Form
10-QSB, including the 10-QSB filed on May 9, 2005 and in its other
SEC reports and statements. In the event the Company is unable to
raise additional tactical working capital from investors (or by the
sale of assets or by other means) during June, and/or additional
strategic funding through the possible sale of Common Stock in
July, the Company would be forced to curtail or cease operations
and/or seek protection under U.S. bankruptcy laws. 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 International, Inc. CONTACT:
Tom Barton of Government Services Group, +44 20 7312 4636, ; or
Investor Relations of Elcom International, Inc., Web site:
http://www.elcom.com/
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