Seven Procurement BPO Contracts Awarded to ICG Commerce in Past Seven Months

Leading procurement outsourcing specialist ICG Commerce today announced that over the past seven months it has formally established or extended multi-year, multi-million dollar relationships with seven leading companies, including Chiquita Brands International (NYSE: CQB), The Goodyear Tire & Rubber Company (NYSE: GT), Greif (NYSE: GEF) (NYSE: GEF.B), and Cameron International Corporation (NYSE: CAM).

The primary driver of each of these awards was ICG Commerce's track record of delivering significant and measurable savings on purchased goods and services. Procurement outsourcing can produce five times the savings of other functional outsourcing endeavors as a result of its focus on spend reduction, according to a recent study by Everest Research Group. However, the Everest study also suggests that measuring and enforcing savings to ensure these cost reductions hit the bottom-line are essential for procurement outsourcing success.

Related Results

Long-standing customers including The Goodyear Tire & Rubber Company awarded four of the seven contracts to ICG Commerce. This strong renewal rate demonstrates ICG Commerce's ability to help leading companies realize measurable expenditure reductions.

"Extending our contract with ICG Commerce attests to the success of the relationship to date," said Ted Augustine, Goodyear's Director of Purchasing -- North American Tire. "Over the past two and a half years, our joint team has delivered on aggressive targets that directly support company goals."

The value being created for ICG Commerce's long-standing customers is also driving other market leaders like Chiquita Brands International to work with ICG Commerce.

"We selected ICG Commerce based upon our confidence in their ability to help us drive cost savings, while allowing us to concentrate on delivering innovative, higher-margin products to our customers and consumers," said Onye Uzoukwu, Chiquita's Vice President of Global Procurement.

Other leaders that have engaged ICG Commerce to provide procurement outsourcing services include Kimberly-Clark, Microsoft India and Timken.

About ICG Commerce, Inc.

ICG Commerce ( www.icgcommerce.com ) is the leading procurement outsourcing specialist delivering comprehensive source-to-pay as well as strategic sourcing services. Results-driven leaders access ICG Commerce's experienced resources and market intelligence to better manage procurement and logistics spend, gaining significant savings and enhanced visibility and control.

ICG Commerce is a privately held company founded in 1992 and a member of Internet Capital Group's network of partner companies. The company has earned recognition from Forbes, Fortune, The International Association of Outsourcing Professionals (IAOP) and leading industry analysts for its leadership in procurement outsourcing.

Contact: Shannon Parish ICG Commerce 484-690-5446 Email Contact Nevin Reilly Sloane & Company 212-446-1893 Email Contact