Business Wire
(Copyright (c) 2001, Business Wire)
NEW YORK--(BUSINESS WIRE)--Feb. 27, 2001

e-STEEL Corporation, a leading metal industry e-Commerce technology provider and e-Marketplace, today announced that it has successfully launched the first phase of a complex, private marketplace for BHP Steel.

BHP Steel is the largest steel producer in Australia and the 19th largest worldwide. To meet BHP's goal to expedite implementation, e-STEEL completed the first phase of the new private marketplace in 90 days. The two companies signed a multi-million dollar contract for e-STEEL to build and power a multi-tier, transactional network for BHP Steel and its extensive customer base last November.

BHP Steel had worldwide sales of more than U.S. $3.9 billion (A$7.4 billion) last year and has more than 7,000 customers in over 50 countries. BHP Steel is the market leader in the supply of flat and coated steel products to the Australian, New Zealand, and Asian markets.

"BHP Steel's objective is to improve our value proposition to our customers by providing them with a compelling transactional e-Commerce environment," said Kirby Adams, President of BHP Steel. "Our partner e-STEEL has successfully demonstrated its ability to deliver an enhanced and extended platform that combines existing and new applications, and features an increased level of flexibility. This platform will easily enable us to scale up as our business develops."

The new e-Commerce site will have the capability to accommodate transactions for BHP Steel's entire portfolio of steel products. It will also integrate a combination of e-STEEL and BHP Steel value-added applications, including purchase orders, order tracking, order status, re-order, logistic services, and mill test certificates.

BHP Steel and e-STEEL are also jointly launching today a five-city road show in Australia to highlight the new site's capabilities for BHP customers. Led by BHP Steel President Kirby Adams and e-STEEL CEO Michael S. Levin, the tour is designed to actively help customers better understand BHP's vision and commitment to e-Business.

"BHP Steel recognizes that the 'tipping point' for e-Commerce is rapidly approaching. Their deep and early commitment to sponsoring comprehensive e-Commerce in this region stands out as an exemplary model of innovative business leadership," said Michael S. Levin, e-STEEL CEO, Chairman, and Founder. "The BHP/e-STEEL alliance is a clear example of powerful results that can be achieved when a leading, traditional brick and mortar company collaborates with a B2B e-Commerce expert to drive supply chain value and efficiency," added Levin.

The new BHP site is further evidence that e-STEEL has been successful in extending its offerings, which began early last year, to include private marketplaces, integration solutions, and e-enabled collaborative commerce, in addition to its public exchange.

e-STEEL is supporting this project with a team at BHP Steel's major flat products plant in Port Kembla, New South Wales. Under the terms of the contract e-STEEL will receive subscription-based revenues, transaction fees, and professional services consulting fees to build and power the BHP network.

About BHP

Headquartered in Melbourne Australia, BHP (NYSE:BHP) (www.bhp.com) has a market cap of more than US$19 billion. BHP is a natural resources company with a regional steel business. The company has global interests and operations in minerals exploration, production and processing, and oil and gas exploration and development, as well as steel.

BHP Steel (www.bhpsteel.com) is the largest steel producer in Australia and the 19th largest worldwide. It is the market leader in the supply of flat and coated products to Australian, New Zealand and Asian markets. In the last financial year, BHP Steel had revenues of U.S. $3.9 billion (A$7.4 billion) from sales to more than 7,000 customers in over 50 countries. BHP Steel is at the forefront of steel coating technology and is the world's largest roll former of processed steel products.

About e-STEEL

New York City-based e-STEEL Corporation (www.e-steel.com) is a leading provider of open e-Commerce technology solutions that strategically connect the global metals supply chain and create real value.

Founded in September 1998, e-STEEL has significant strategic industry alliances with BHP Steel, Dofasco Inc., Feralloy Inc., Ford Motor Company, Ispat International, Macsteel Service Centers USA, National Steel, Rouge Steel, U.S. Steel Group, USS-Posco, The Techs, and Worthington Steel.

The company is backed by a blue-chip group of strategic investors led by Goldman, Sachs & Co.