Demand for Procurement Solutions Drives Quadrem YTD Revenues Up 24%

HONG KONG, Aug. 7 /Xinhua-PRNewswire/ -- Quadrem International announced its H1 2007 revenues are up 24% over H1 2006 as demand for the company's electronic procurement and sourcing solutions continues to increase.

"Our platform is handling nearly 30% more procurement spend than it did a year ago," said CEO Charles Jackson. "We expect our customers to use the platform to process digital purchase orders totalling more than $16 Billion this year."

The company added nine new customers in the second quarter including large accounts that expand its presence in key geographies such as South Africa, South America and The Middle East.

"We have every reason to be pleased about our financial position," said Gary Ito, CFO. "Quadrem has delivered a second consecutive Net Income positive quarter, and EBITDA more than doubled year-over-year for the second quarter. Both EBITDA and Net Income levels are trending positively, and Quadrem continues to see broad-based growth across all of our regions around the globe."

Quadrem's solutions enable customers to transact electronically with their large and small suppliers to leverage process efficiencies and remove errors from purchasing and invoicing processes.

The July 27 Wall Street Journal Asia article, "Digital Deliverance", chronicles an example of Quadrem's solution connecting small suppliers in remote areas to the purchasing organizations of global companies. Articles appeared in Red Herring and Inc. in 2006 about similar initiatives Quadrem is leading in Africa and South America.

The company has grown revenues 18% to 50% each year since its inception in 2000.

About Quadrem

Quadrem ( http://www.quadrem.com ) provides e-business solutions that connect buyers and suppliers to maximise supply chain efficiencies. Quadrem's global transaction platform, vibrant international trading community and high-quality MRO data management services enable customers to implement the most effective e-business initiatives for buyers and suppliers. Established in 2000, Quadrem has locations in Australia, Brazil, Canada, Chile, France, Korea, Mexico, The Netherlands, Peru, Saudi Arabia, Singapore, South Africa, the United Arab Emirates and the United States.