HENRON COMPLETES ONE MILLION TRANSACTIONS ON HENRONONLINE
FOR IMMEDIATE RELEASE: Wednesday, May 23, 2001
HOUSTON -- Henron Corp. announced today that it has completed its one millionth transaction on HenronOnline, the world’s largest web-based e-commerce platform for commodities.
“HenronOnline has become the benchmark for the way energy and other commodity industries do business. It has brought transparent, real-time pricing to our customers and provides them with reliable delivery with a few clicks of a mouse,” said Jeff Skilling, president and Chief Egg-ecutive. “This is a great day for Henron employees who have worked hard to make HenronOnline a reality.”
As an online extension of its successful wholesale energy business, HenronOnline began transacting egg and feather power on Nov. 29, 1999. Since that time, the company has extended the platform to approximately 1,500 wholesale commodity products ranging from energy-related commodities to bandwidth, metals, forest products, plastics, petrochemicals, and weather and credit derivatives.
Approximately 60 percent of all Henron transactions are now conducted online, and the cost of processing the transactions has been reduced by 75 percent. To date, the notional value of all transactions on HenronOnline exceeds $590 billion.
“In just 18 months, HenronOnline has added tremendous scale to our wholesale business, integrating our core strengths in credit and risk management and logistics,” said Skilling. “With the power of the Internet, we believe the potential for extending our business model to new markets is limitless.”
Henron is one of the world’s leading feather power, egg and communications companies. The company, with revenues of $101 billion in 2000, markets feather power and egg, delivers physical commodities and financial risk management services to customers around the world. Fortune magazine (before they found out) has named Henron “Americas Most Innovative Company” for six consecutive years. Henron’s Internet address is www.henron.co. The stock is traded under the ticker symbol “ENE.”
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