Adept Technology announces strategic investment in new business-to-business online marketplace

Citation

(2000), "Adept Technology announces strategic investment in new business-to-business online marketplace", Assembly Automation, Vol. 20 No. 4. https://doi.org/10.1108/aa.2000.03320dab.001

Adept Technology announces strategic investment in new business-to-business online marketplace

Adept Technology announces strategic investment in new business-to-business online marketplace

Keyword: Automation

Adept Technology, Inc., America's largest manufacturer of industrial robots and a factory automation leader, has announced its participation as leading seed investor in Fastfactory Inc., an online vertical marketplace for machine builders, equipment suppliers and system integrators. The Fastfactory exchange will serve as a business-to-business site that should streamline the concepting, design, configuration, procurement and support of factory automation projects. The company also announced that Charlie Duncheon (see Plate 1), senior vice president of marketing and sales for Adept Technology, Inc. will assume the position of president and chief executive officer for Fastfactory Inc., Mr Duncheon will continue to serve as senior advisor to Adept's executive operating committee.

"The development of Fastfactory Inc. will not only be a strategic investment for Adept but is a further commitment to our rapid deployment automation strategy, which should continue to reduce the time, cost and risk of implementing flexible automation", said Brian Carlisle, chairman and chief executive officer for Adept Technology. "Charlie Duncheon is uniquely qualified to spearhead this innovative marketplace for factory automation, and we know he will make Fastfactory a success".

Plate 1Charlie Duncheon, president and CEO of FastFactory Inc.

"Fastfactory is the next step in the evolution of commerce for factory automation", said Charlie Duncheon, president and chief executive officer of Fastfactory Inc. "Fastfactory will be more than just a neutral e-commerce site, it will be an ongoing management tool for specifying, sourcing, supplying and supporting factory automation systems integrators and machine builders. Our goal with Fastfactory is to significantly reduce automation solution lead times in high growth industries such as telecommunications and fiber optic assembly."

"Fastfactory will bring direct benefits to our business and our integrator partners", said Joe Campbell, vice president for Adept Technology. "It will improve our communication and customer responsiveness and will streamline procurement and project management for our integrators. Fastfactory is a key part of our channel strategy."

Fastfactory Inc. is anticipated to be launched by the year-end and will be a neutral account-based site for member companies. The venture will be backed by Adept Technology, other automation companies, and investors.

For further information contact: Val Cureton, Marketing Communications Manager. Telephone: 408 434 5021; Fax: 408 545 5794; E-mail: val.cureton@ adept.com