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Polygon Expands Globally with New Offices in Dubai, India and China
Dubai, UAE - June 27, 2006 — Polygon, the jewelry industry's largest B2B Internet marketplace, announced today the beginning of its global expansion, with new offices opened in Dubai, Mumbai and Shenzhen, China. Polygon's international inititiative is a joint venture with the Dubai Multi Commodities Centre (DMCC), a Dubai government initiative. As part of the expansion, Jacques Voorhees, founder of Polygon, was named Chairman. New CEO's were named for PolyGroup, Ltd. and Polygon DMCC.
Replacing Voorhees, Louis Mousseau, formerly Vice President of Corporate Marketing for Mediagrif, Polygon's parent company, will act as President of PolyGroup, Ltd., headquartered in Dillon, Colorado. Marie-Josée Trépanier, formerly head of Mediagrif's Dubai division, is the new CEO of Polygon DMCC, headquartered in Dubai in the DMCC free zone.
"We chose to affiliate with Polygon because of its leading position in the industry," said Ahmed bin Sulayem, COO of the Dubai Multi Commodities Centre. "As Dubai expands its status as a global hub for the trade, Polygon is the online component of that expansion-a critical piece in the 21st century."
"Polygon has a dominant position in the U.S. market," noted Voorhees. "By expanding globally, we will be leveraging that position, and bringing our expertise in online-marketplaces to the emerging markets in the Middle East, India, Asia, Africa, and Russia as well as in other key regions."
"Among Mediagrif's networks, Polygon is one of the several to have potential for strong growth. I'm excited to have a role in realizing that growth," said Louis Mousseau, the newly named President of PolyGroup, Ltd. "Our offices in Dubai, Mumbai, and Shenzhen will directly support the expansion of Polygon into these regions. The response we've met with so far in these markets is very positive, and we expect great opportunities to materialize over the coming months," said Marie-Josée Trépanier, newly named CEO of Polygon DMCC.
About DMCC
The Dubai Multi Commodities Centre (DMCC), rated 'A' by Standard & Poors was created in 2002 as part of a strategic goal by the Dubai Government to establish a commodity marketplace in Dubai. It provides the market infrastructure that brings together a wide range of commodities activities, and is committed to serve the needs of participants in the gold, diamonds and commodities markets. Resident companies of DMCC are offered highly attractive benefits under a free zone status, including a 50-year guaranteed tax holiday, 100 per cent business ownership, full ownership of business premises, and a secure regulated environment.
To learn more about DMCC, please visit www.dmcc.ae
To view DMCC's corporate video: www.dmcc.ae/about_video2.htm
About Polygon
Polygon began operations in 1984 and is located in Dillon, Colorado. Polygon is the leading online business-to-business Internet marketplace for the jewelry industry and presently connects thousands of retail jewelers, gem and jewelry industry suppliers, and others in the trade, who in aggregate conduct millions of dollars a day in transactions. Polygon features one of the largest combined inventories of polished diamonds in the industry: over $2.1 billion at wholesale value, supplied by hundreds of independent dealers. Polygon also includes active forums and databases for colored stones, finished jewelry, and watches.
Other business units within PolyGroup include SiteInfusion, patent pending software for co-op marketing on the Internet between suppliers and retailers; TradeLock, a password protection technology for jewelry industry websites, and WebActive a website design firm.For more information, visit www.polygon.net; www.siteinfusion.com; www.tradelock.com; and www.webactivedesign.com
About Mediagrif Interactive Technologies Inc.
Mediagrif Interactive Technologies Inc. (TSX: MDF) is a world-leading operator of e-business networks and provider of complete e-business solutions. Mediagrif's e-business networks allow buyers and sellers within specific industries to source, purchase or sell products and to exchange documents more efficiently using the Internet. Mediagrif operates 13 networks, including industry leaders The Broker Forum
(www.brokerforum.com) Power Source On-Line (www.powersourceonline.com), Telecom Finders (www.telecomfinders.com), Global Wine & Spirits (www.globalwinespirits.com) and Polygon (www.polygon.net) in the jewelry industry. The company also owns MERX (www.merx.com), the exclusive provider of e-tendering services to the federal government of Canada, and is a leading provider of government bid aggregation services and e-procurement services in the U.S. Headquartered in Montreal, Mediagrif through its subsidiaries has various offices in Canada and the United States. For more information on Mediagrif please visit www.mediagrif.com or call +450.677.8797.
For further information, please contact:
Nagla Elrufaie, Media Relations Executive, DMCC +971 4 3903 899
Claudia Schmidt, Marketing Manager, Polygon DMCC +971 4 329 2151
Kathy Roberge, Director of Communications, Mediagrif +450 677 8797
Polygon Offices:
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