TradeBeam, PanPacifics Partner to Deliver GTM in China
September 13, 2005
By Editorial Staff
San Mateo, CA — September 13, 2005 — Global trade management (GTM) specialist TradeBeam Holdings has entered into a joint venture agreement with PanPacifics Corporation to deliver a GTM platform to China, with the expectation that the joint venture will develop and support enterprise software applications and industry solutions for the Chinese market.
According to TradeBeam, upon its incorporation, the joint venture will tackle the critical and growing challenges China faces in managing trade by leveraging the solution provider's suite for managing order, logistics and financial settlement processes involved in moving goods across borders.
The joint venture will focus on launching commercial activities within the region, building strategic partnerships with key customs and government organizations as well as extending product functionality, including localization of specific GTM modules, according to TradeBeam.
"Targeting key trading industries exporting to and from China, TradeBeam and PanPacifics are focused on helping organizations recognize the immediate value of automating the entire global trade process from order through to payment," the two companies said in a statement on the deal.
"TradeBeam is the most advanced technology platform available today to enable trade," said Hubert Xian, president and CEO of PanPacifics. "We spent over a year reviewing potential partners for this initiative, and we are delighted we have come to an agreement."
"We are excited about our partnership with PanPacifics because of our shared vision for GTM in one of the fastest growing markets in the world," said Graham R.F. Napier, president and CEO of TradeBeam. "The alliance represents an important opportunity to automate the physical and financial supply chain processes for companies that trade with China."