CombineNet, Inc. Expands European Customer Base for its Advanced Sourcing Application Platform

LONDON and PITTSBURGH, January 11, 2011 /PRNewswire/ --

- A.P. Moller - Maersk A/S, Schindler Group, Bayer MaterialScience AG, PPG Europe, and ArcelorMittal among industry leaders using CombineNet ASAP to address sourcing challenges

CombineNet, Inc., the leading provider of advanced sourcing technologies, today announced expanded revenue growth as an increasing number of European customers adopt the company's web-based Advanced Sourcing Application Platform (ASAP) product. A.P. Moller - Maersk A/S, headquartered in Denmark, and Schindler Group in Switzerland are new customers welcomed to the CombineNet ASAP user base for speeding and simplifying sourcing activities across spend categories. Among renewing CombineNet ASAP customers are Bayer MaterialScience AG in Germany, PPG Europe, and ArcelorMittal Europe.

"We selected CombineNet ASAP to provide us with a solution that can be adopted across multiple spend areas, particularly in complex categories. We believe it will improve our sourcing teams' capabilities in processing and simplifying the collection and analysis of bid data from our suppliers, support strategic sourcing plans, and ultimately drive more value and savings," said Jacob Gorm Larsen, Senior General Manager, Procurement Technologies of A.P. Moller - Maersk A/S, a worldwide conglomerate in shipping, energy, logistics, retail, and manufacturing employing 115,000 globally.

Lars Bluethner, Bayer MaterialScience AG's Lead Ocean Buyer, said, "As a customer of CombineNet , we receive benefits in reducing the data crunching time to a minimum and focusing on the analysis of the data by running different scenarios. In addition, it helps us to consider the service requirements of our regions."

"We are very excited to grow our relationships with these global industry leaders as they look to further increase their savings and value when sourcing a range of spend areas," said CombineNet President and COO Rich Wilson. "Our continued customer traction reinforces our belief that CombineNet ASAP offers a strong advantage in providing a self-service product to sourcing teams who seek to simplify the creation, launch, optimization, and management of sourcing events - no matter what size or degree of complexity."

CombineNet's European headquarters are located in the Chiswick Business Park in London, with a regional sales office in Hamburg, Germany. Global headquarters are in Pittsburgh, Pennsylvania USA.

About CombineNet

CombineNet, Inc. is the advanced sourcing technology company. CombineNet's ASAP product (Advanced Sourcing Application Platform) is an optimization-driven Software as a Service (SaaS) solution that helps customers deliver the absolute best total cost of goods and services based on their unique business needs. CombineNet ASAP is used to speed, simplify, and centralize the sourcing of any and all spend categories from global suppliers: direct and indirect materials, all modes of transportation, and services. In the past 10 years, CombineNet has delivered more than $6 billion in bottom-line savings for businesses worldwide including General Mills, PepsiCo, Procter & Gamble, Bayer, Sears, Johnson & Johnson, and many more across all industries. For more information, visit http://www.combinenet.com.