Herndon, VA (January 29, 2004) – Exostar, the global Internet exchange for the aerospace and defense industry, announced today that it had finalized an agreement with AMS for the full deployment of its eSourcing and eProcurement solutions throughout the company.
AMS, the multi-national electronic systems company, will expand the deployment of Exostar’s solutions with its United Kingdom based business units. AMS will focus on catalog-based procurement and electronic sourcing of direct and indirect materials.
“We believe Exostar’s solution will help deliver cost reduction benefits through process improvement and other saving benefits,” said Richard Mould, AMS UK procurement director.
“We are excited about the addition of AMS to our portfolio of leading aerospace and defense customers. This agreement builds on the momentum established in 2003 and speaks to the strength and maturity of our sourcing and procurement products,” said CEO Don Bielinski.
Changing topics, Bielinski added “With the support of A&D manufacturers and suppliers, and the hard work and dedication of Exostar’s employees, the fourth quarter of 2003 marked our first quarter of operating profit.” Exostar also realized positive net cash flow in the last quarter of 2003.
The exchange is now supporting over 70,000 transactions a week, totaling 2.2 million transactions since January 2003, a 300% increase over the previous year. These transactions were delivered with a better than 99% reliability performance, an absolute requirement for handling the business critical transactions of the aerospace and defense industry.