BOSTON--(BUSINESS WIRE)--Aug. 7, 2008--CRA International, Inc. (NASDAQ: CRAI), a worldwide leader in providing management, economics, and financial consulting services, has announced its role as the Trading Manager for Fonterra Co-operative Group ("Fonterra") on its new Internet-based global trading platform for dairy products. The innovative online trading platform was developed by CRA and has been used for the first two trading events which were held on July 2 and August 5, 2008. The trading events attracted customers from around the world and sold a variety of dairy products over three contract periods.
Fonterra is the fifth largest dairy company in the world with a global supply chain that reaches more than 140 countries. CRA International was appointed by Fonterra as the independent Trading Manager for globalDairyTrade, a new Internet-based electronic trading platform for cross-border trade in commodity dairy products. globalDairyTrade offers Fonterra's customers and supply partners improved price transparency, forward price information, and enhanced price risk management. CRA designed the trading mechanism and developed the bidding software and systems, and is acting as the independent third party in managing the operations of the trading process.
"Auctions, trading platforms, and other organized market mechanisms increasingly are being used to sell or procure commodities and other assets," said James C. Burrows, CRA's president and chief executive officer. "Our goal in working with Fonterra was to design, implement, and monitor an effective and sustainable Internet-based trading platform, the first of its kind in international dairy trade. We are pleased that the trading platform resulted in successful outcomes for Fonterra and its customers in the first trading events and will facilitate new, more effective, and efficient trading opportunities going forward."
In addition to Brad Miller, Vice President and leader of CRA's Auctions and Competitive Bidding Practice, other key CRA senior staff assisting in this effort included Bob Lee, Geoff Phelps, and Carl Lambrecht, as well as CRA consultant Alister Hunt.
In addition to developing the globalDairyTrade platform, CRA manages the trading events. The next trading event is scheduled for September 2, 2008.
About CRA International
Founded in 1965, CRA International is a leading provider of management consulting services and economic and financial expertise. Working with businesses, law firms, accounting firms, and governments, CRA is a preferred consulting firm for complex assignments with pivotal and high-stakes outcomes. The firm is distinguished by a unique combination of credentials: deep vertical experience in a variety of industries; broad horizontal expertise in a range of functional disciplines; and rigorous economic, financial, and market analysis. CRA offers a proven track record of thousands of successful engagements in regulatory and litigation support, business strategy and planning, market and demand forecasting, policy analysis, and engineering and technology management. Headquartered in Boston, the firm has sixteen offices within the United States, and seven offices in Canada, Europe, the Middle East, and the Asia Pacific region. Detailed information about CRA is available at www.crai.com.
Statements in this press release concerning the future business, operating results, estimated cost savings, and financial condition of the Company and/or the Auctions and Competitive Bidding Practice and statements using the terms "anticipates," "believes," "expects," "should," or similar expressions, are "forward-looking" statements as defined in the Private Securities Litigation Reform Act of 1995. These statements are based upon management's current expectations and are subject to a number of factors and uncertainties. Information contained in these forward-looking statements is inherently uncertain and actual performance and results may differ materially due to many important factors. Such factors that could cause actual results to differ materially from any forward-looking statements made by the Company include, among others, the Company's restructuring costs and attributable annual cost savings, changes in the Company's effective tax rate, share dilution from the Company's convertible debt offering and stock options, dependence on key personnel, attracting and retaining qualified consultants, dependence on outside experts, utilization rates, factors related to its recent acquisitions, including integration of personnel, clients, offices, and unanticipated expenses and liabilities, risks associated with acquisitions it may make in the future, risks inherent in international operations, the performance of NeuCo, changes in accounting standards, rules and regulations, changes in the law that affect its practice areas, management of new offices, the potential loss of clients, dependence on the growth of the Company's business consulting practice, the unpredictable nature of litigation-related projects, the ability of the Company to integrate successfully new consultants into its practice, intense competition, risks inherent in litigation, and professional liability. Further information on these and other potential factors that could affect the Company's financial results is included in the Company's filings with the Securities and Exchange Commission. The Company cannot guarantee any future results, levels of activity, performance or achievement. The Company undertakes no obligation to update any of its forward-looking statements after the date of this press release.
CONTACT: CRA International, Inc.
James C. Burrows, 617-425-3700
President and CEO
or
Sharon Merrill Associates
Jim Buckley, 617-542-5300
Executive Vice President
SOURCE: CRA International, Inc.
