FORD EXPANDS RELATIONSHIP WITH VASTERA TO EUROPE
Vastera Inc., the Dulles, Va.-based provider of global trade management services, said Tuesday it is assuming responsibility for Ford Motor Co.'s trade operations in Europe, effective Dec. 1.
The deal expands Vastera's two-year relationship with the giant automaker. Vastera began managing Ford's U.S. global trade operations in September 2000, assumed responsibility for Ford's Mexican global trade operations in February 2001 and the automaker's Canadian global trade operations one month later.
Vastera also said Tuesday that Ford has agreed to extend its current agreement for the U.S. and Mexico operations. Ford and Vastera have also agreed on the transition of Ford's operation to Vastera's software platform.
'Since taking over our North American trade operations, Vastera has reduced our duties and brokerage costs significantly,' said Roman Krygier, group vice president, manufacturing and quality for Ford. 'We look forward to comparable hard-dollar savings and continued excellent service in Europe.'
'We expect to leverage (Ford's) considerable trade expertise to meet not only the needs of Ford, but other leading companies within Europe,' said Mark Ferrer, president and chief executive officer of Vastera.
Besides Ford, Vastera provides trade managed services to large auto companies including Visteon, International Truck, Land Rover, Jaguar, Auto Alliance, DENSO and Unipart.