Adatom.com, Inc. (Nasdaq: ADTM) was up 1/4 at 2 1/8 early Wednesday after announcing a joint venture to establish and develop an electronic marketplace for U.S. and Chinese companies.
The Milpitas, California-based Adatom said it is partnering with the China Federation of Industrial Economics to build a marketing, sales and distribution system that will link companies and provide information in both English and Chinese. The federation is a coalition of Chinese trading associations representing various industries.
The agreement is Adatom’s fourth venture with a Chinese enterprise this year. The company, which operates an online superstore, said it is positioning itself to capitalize on expected “explosive” growth in B2B e-commerce in the region, aided by the U.S. House of Representatives’ recent approval of permanent normal trade relations (PNTR) status for China.