Lucent strengthens supply chain with expansion of managed trade services agreement
Dulles, VA — October 13, 2004 — Lucent Technologies today said it has signed an agreement with global trade management solutions provider Vaster Inc. under which Vastera will commence managing Lucent's trade processes in China.
Lucent said it will utilize Vastera's international trade consulting services and trade process and definition improvements to manage the import and export of communications equipment into and out of China.
Vastera has been managing Lucent's trade operations in the United States since 2001. Subsquent to 2001, Lucent and Vastera expanded their relationship to encompass several geographic regions in which Lucent has operations. As a result of this latest agreement, Vastera now manages Lucent's trade operations in the United States, Europe, Brazil, Canada, Mexico, and China. Through its Global Trade Managed Services offering, Vastera will continue handle trade compliance and supply chain efficiencies throughout Lucent's import and export operations.
According to Research and Markets Ltd., Europe's largest resource for market research, China is now the world's fourth largest trading nation and is the world's fastest growing economy, with export and import volumes totaling approximately US$800 billion in 2003. According to the World Trade Organization, China became the world's third largest importer in 2003.