Vastera (NASDAQ: VAST), the provider of solutions for Global Trade Management (GTM), today announced that it has signed an agreement to expand its relationship with Lucent Technologies (NYSE: LU).
Under the expanded relationship, Vastera will commence managing Lucent's trade processes in China. Lucent 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. Subsequent 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 to ensure trade compliance and create additional supply chain efficiencies throughout Lucent's import and export operations.