MILPITAS, Calif.-- BUSINESS WIRE -- September 29, 2000--Just days after the US normalized trade with China, Adatom.com, signed an agreement with Shanghai Longwu Fruit Company to gain access to the billion dollar agricultural marketplace. Shanghai Longwu Fruit Company's parent company, Longwu Port Company, owns and operates a large fruit and vegetable wholesale marketplace in China's port of Shanghai. Under the new agreement U.S. fruit and vegetable vendors can sell agricultural products directly into the Chinese marketplace.
Under the terms of the agreement, Adatom will contract with U.S. vendors of agricultural products to participate in the Shanghai wholesale fruit and vegetable import marketplace. Products from U.S. vendors will be sold to more than one hundred Chinese fruit and vegetable vendors who utilize Longwu's port marketplace to buy wholesale fruit and vegetable imports for distribution throughout China. Established as one of the largest fruit and vegetable marketplaces, occupying over 2.5 million square feet, in the Shanghai port area, Longwu's state-of-the-art facilities and large cold storage facilities enable fruit and vegetable buyers to have permanent representation at the port.
Richard S. Barton, President and CEO, of Adatom, stated, "This agreement with the Longwu Fruit company positions Adatom as a key agent to provide U.S. agricultural businesses access to the Chinese marketplace and participation in the anticipated agricultural trade boom."