November
27, 2000
DOLE
FOOD COMPANY, INC. GOES LIVE WITH TRADINGPRODUCE.COM E-COMMERCE
SOLUTION
WESTLAKE
VILLAGE, California - November 27, 2000 -- Dole Food Company, Inc.
(NYSE: DOL) today announced the selection of tradingproduce.com,
Inc. as the e-commerce solution for its subsidiary, Dole Fresh Vegetables,
Inc.
"We
look forward to begin offering our customers a cost-effective e-commerce
solution where both our fresh produce customers and ourselves will
benefit from the advantages of e-commerce" said David Delorenzo,
President and Chief Operating Officer of Dole Food Company, Inc.
"tradingproduce.com
had demonstrated the flexibility and willingness to meet our needs
with amazing speed," said Larry Kern, President of Worldwide Fresh
Vegetables, Packaged Salads and Non-Tropical Fresh Fruit. "Our criteria
was simple, the e-commerce solution had to be secure, easy to use,
flexible and cost effective."
"We
are impressed with their leading-edge technology, functional capabilities,
and speed demonstrated in integrating their platform into our internal
sales order entry system" said Rick Bravo, Vice President of Sales,
Dole Fresh Vegetables, Inc. "This will be a major value-added service
for our customers and we are ready to start using tradingproduce.com
with many of our major customers."
"We
are excited about working with Dole, which has such a proven track
record as a forward-thinking company," said Rob Bonavito, Chief
Executive Officer, tradingproduce.com.
Dole
Food Company, Inc., with 1999 revenues of $5.1 billion, is the world's
largest producer and marketer of high-quality fresh fruit, fresh
vegetables and fresh-cut flowers, and markets a growing line of
packaged foods.
tradingproduce.com
does not charge its members a buy/sell transaction fee and provides
significant cost savings throughout the entire process.
Customers
can move the entire transaction process electronically through the
Internet to their own accounting system with no paperwork involved.
Its business model is designed to create revenue from proprietary
value-added services, including logistics, financial services, analysis
tools, and back office integration.
tradingproduce.com
is a privately held company backed by the $950 million investment
fund Bay Isle in San Francisco, Silicon Valley private investors
and vTraction, an affiliate of Rabobank, which is one of the world's
largest and strongest financial institutions with $290 billion in
assets.
This
release contains forward-looking statements based on current expectations
that involve a number of risks and uncertainties. Forward looking
statements, which are based on management's current expectations,
are generally identifiable by the use of terms such as "believe,"
"will," " continue," and similar expressions. The potential risks
and uncertainties that could cause actual results to differ materially
from those expressed or implied herein include weather-related phenomena;
market responses to industry volume pressures; product and raw materials
supplies and pricing; changes in interest and currency exchange
rates; economic crises in developing countries; and quotas, tariffs
and other governmental actions. Further information on the factors
that could affect Dole's financial results is included in its Securities
and Exchange Commission filings, including its Annual Report on
Form 10-K.
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