Electrolux Accepts Global Agreement with FreeMarkets Inc. Dec 8, 2003

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Swedish appliance maker AB Electrolux announced it has signed a long-term, global agreement with Free Markets Inc., provider of global supply management (GSM) solutions Under the agreement, Electrolux will use a suite of FreeMarkets solutions said to improve business operations and drive savings and efficiencies across its global operations. The agreement follows the completion of a successful pilot that FreeMarkets began with Electrolux Home Products in 2002.

"FreeMarkets is unique in its ability to provide software to drive sourcing projects as well as commodity and sourcing expertise to support its use and ensure optimal results," said Michael Rager, vice president, Electrolux Home Products North America. "During our pilot with FreeMarkets, we sourced more than $75 million in goods and services, and identified savings of more than 28 percent."

Electrolux will use a range of solutions to achieve its cost-containment goals, including: FreeMarkets(R) FullSource(TM), FreeMarkets(R) QS(TM), and FreeMarkets(R) Supplier Implementation Solution to improve business operations and increase savings to its global operations.

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