FOR IMMEDIATE RELEASE
CombineNet Launches New Energy Division
Company engages prominent energy industry executives, John W. Welch and Frank A.
Hoffmann, to lead development
PITTSBURGH, PA—October 15, 2003
CombineNet (www.combinenet.com) today announced
its strategic decision to launch a new division that targets its proven Decision-Guidance
Systems to meet the specific needs of the energy industry. The company has engaged
two executives from the industry to lead its energy divisionJohn W. Welch and Frank
A. Hoffmann.
CombineNet's Decision-Guidance Systems utilize patented, combinatorial optimization
technologies to provide better answers to high-impact strategic business problems.
Forward thinking companies like Procter & Gamble and Dupont have profited from
the use of CombineNet's technology and are expanding its use to gain competitive
advantage.
We formed the new energy division in direct response to the capital-intensive nature
of the energy industry, the ever-growing pressures to use resources prudently, and
the importance of the energy infrastructure to national security," said Tony
Bonidy, president and CEO of CombineNet. "Our Decision-Guidance technologytogether
with our industry-renowned executive teamare ideally suited to meet the energy industry's
need for more powerful decision-support tools, which will enable managers and policy
makers to make better decisions."
John W. Welch has nearly 30 years of experience in various facets of the energy
industry. He was formerly president of DQE Systems, engaged in retail propane and
telecommunications businesses. Prior to that, Welch was president of Equitable Gas
Company, a multi-state gas distribution company.
The business drivers impacting the energy industry today, from heightened sensitivity
toward system reliability to increased financial pressures to do more with less,
create an environment where the optimal use of resources is an expectation of customers,
shareholders, and regulators," Welch said.
Prior to his role at CombineNet, Frank A. Hoffmann was most recently president of
AquaSource, a multi-state water and wastewater utility and service company. He was
also executive vice president of DQE, the parent company of Duquesne Light Company,
where he managed the marketing and sales functions and the integrated resource planning
area. Hoffmann has nearly 30 years of industry experience in the role of manager
and as a consultant to electric, gas, petroleum, water and telecommunications companies
throughout the U.S. and Canada.
As evidenced by the blackout on August 14th and the ensuing widespread disruption
in utility service, the complexities and interdependencies among utility service
providers are significant," said Hoffmann. "System operators are inundated
with volumes of data and, without robust decision-guidance systems, the decisions
madeand the resulting actions takenare inherently sub-optimal," said Hoffmann.
CombineNet's Decision Guidance Systems will enable the energy industry to lower
costs and increase reliability benefiting all industry stakeholders.
About CombineNet
CombineNet, the advanced sourcing technology company, helps companies achieve the absolute best value and lowest total cost of ownership for goods and services. CombineNet's Advanced Sourcing Application Platform enables companies to engage in Expressive Commerce™, the strategic sourcing initiative that allows buyers and sellers to communicate supply and demand more expressively, collaboratively and strategically. The result is a win-win for both buyer and supplier, where greater innovation and efficiency are driven into the supply chain. CombineNet's ASAP consistently produces 10, 15, even 20 percent greater actual cost savings than other e-sourcing solutions, and has delivered more than 45x ROI for the largest businesses in the world including General Mills, PepsiCo, Procter & Gamble, Siemens and others. For more information, visit www.combinenet.com.
Media Contacts:
Greg Holt
CombineNet Inc.
Director of Marketing
Phone: 412.471.8200
gholt@combinenet.com