Doosan Infracore (SEO:A042670)

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Doosan Infracore Construction Equipment to Leverage ICG Commerce to Drive Procurement Transformation Through Outsourcing

PHILADELPHIA, July 21, 2010 (GLOBE NEWSWIRE) -- ICG Commerce, the procurement outsourcing specialist, will help drive significant cost savings across non-core spending for Doosan Infracore Construction Equipment (DICE), an industry leader in the engineering, manufacturing, and marketing of compact and heavy construction equipment, attachments, air compressors, lighting systems, generators and articulated dump trucks. DICE is a global alliance that represents world-renowned brands including, Doosan, Bobcat, Montabert, Portable Power and Geith. DICE will leverage ICG Commerce's purchasing category expertise, market intelligence and integrated infrastructure to help enable critical internal resources to focus on core competencies.

"The ICG Commerce team is eager to work with our stakeholders to achieve mutual success," commented Jim Adkins, North American Regional Vice President of Supply Chain & Sourcing at DICE. "ICG Commerce truly understands the need to obtain the best value for our spend, not just the lowest price. This partnership will help us maintain financial discipline and achieve supply chain efficiencies and continuous operational innovation."

Through this new partnership, ICG Commerce will provide sourcing and ongoing category management services for non-core spend across categories such as logistics, plant-related maintenance, repair and overhaul (MRO), capital equipment, travel, IT, marketing, HR and other corporate and industrial services. As part of the evaluation process, DICE considered several technology and consultant-based solutions. ICG Commerce emerged as the clear choice based on its proven track record of delivering strong results for other leading manufacturers, including Goodyear, Whirlpool, Greif and Cameron

ICG Commerce will also provide sourcing and category management support to DICE for aftermarket components and some direct materials, pointing to a trend in manufacturing to drive measurable savings in traditionally under-resourced buying categories.

"Our goals required we develop a strategy to increase efficiency and transparency throughout all categories of our non-core spend. We were extremely impressed with the visibility ICG Commerce can provide into our spend, savings and compliance," said Greg Kinder, Chief Purchasing Officer of DICE. "We look forward to our partnership with ICG Commerce."

Having already executed more traditional cost reduction approaches, manufacturing executives are looking to procurement outsourcing as a next-generation cost savings strategy. Building on its work with leading manufacturers, ICG Commerce's work with DICE positions the company as a strategic partner for the manufacturing industry to remain agile and drive sustainable savings in 2010 and beyond.

"We are committed to delivering sustainable, realized savings for our clients that can be reinvested in core areas of their business to drive growth," said Carl Guarino, chief executive officer of ICG Commerce. "ICG Commerce looks forward to working in close partnership with DICE to deliver material savings that will support its financial agility and growth objectives." 

About Doosan Infracore Construction Equipment

Doosan Infracore Construction Equipment is an industry leader in the engineering, manufacturing, and marketing of compact and heavy construction equipment, attachments, air compressors, lighting systems, generators and articulated dump trucks. Doosan Infracore Construction Equipment is a global alliance representing world-renowned brands, including Doosan, Bobcat, Montabert, Geith, Tramac, Doosan Moxy and Doosan Infracore Portable Power. Relying on more than 3,500 dealers worldwide, Doosan Infracore Construction Equipment has been used in countless projects all over the world to help customers do their jobs more efficiently and effectively. For more information, visit http://www.doosaninfracore.com/ce/index.html. 

About ICG Commerce, Inc.

ICG Commerce, the procurement outsourcing specialist, is driving a fundamental change in the way today's businesses achieve financial agility and fund growth. ICG Commerce is the only procurement outsourcing specialist with superior market intelligence integrated into an operational approach, resulting in hundreds of millions of dollars in realized savings. ICG Commerce is a privately held company and member of Internet Capital Group's (Nasdaq:ICGE) network of partner companies.

The ICG Commerce, Inc. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=6920

CONTACT:  Racepoint Group for ICG Commerce
          Media Contact:
          Katie Judd
          781-487-4656
          kjudd@racepointgroup.com

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