Fasturn Inc. (www.fasturn.com), a leading web-based sourcing solutions provider for the apparel industry and other made-to-order goods, has acquired the apparel and textile industry's import management and consulting firm, International Business and Economic Research Corporation (IBERC).

For more than 30 years IBERC (www.iberc.com) has been an important resource for apparel and textile importers, retailers and manufacturers who want to maximize opportunities and mitigate risks associated with importing of apparel and textile goods.

The acquisition will enable Fasturn to improve its sourcing solutions, creating efficiencies and value for apparel and textile companies by integrating software with IBERC's essential services and data. Fasturn and IBERC plan on offering enhanced products to their joint client base as soon as November of this year.

Fasturn acquired 100 per cent of the assets of Washington, DC-based IBERC which will continue to operate under the IBERC name. The combined companies currently employ 120 people with offices in Los Angeles, New York, Seoul, Korea, Hong Kong and Washington, DC.

"Our purchase of IBERC further enhances Fasturn's already leading-edge direct sourcing tools and services. We believe that, for the first time ever, the apparel and textile industry will have a web-based direct sourcing solution that incorporates live data on quota and duty leading to efficiencies of time and cost for our clients," said Frank Litvack, chairman and CEO of Fasturn. "Fasturn is committed to providing intelligent decision support software for the apparel and textile industry and the acquisition of IBERC is an important step in ensuring we do that."

"We see enormous potential in combining IBERC's expertise on trade regulation in the apparel and textile industry with Fasturn's technology and domain experience," said Mike Daniels, founder of IBERC. "We are very excited about bringing the business of trade regulation in the apparel and textile industry into the new economy."

IBERC's current clients include some of the largest companies in the apparel and textile industry who utilize IBERC's Web-based Quota Management Service and consulting capabilities to make critical decisions about sourcing from overseas manufacturers. In addition to apparel and textile companies, IBERC also provides consulting services for several of the world's leading apparel and textile producing nations on the United States' quota and tariff system. IBERC's highly trained professional staff provides consulting and customized research services on all aspects of textile and apparel trade to importers, retailers, manufactures, commerce groups, governments, and foreign exporters throughout the world.

IBERC will continue to service its existing customer base with Quota Management Services (QMS) and custom consulting services with no interruption of service. IBERC also will continue to service and provide data to other portals, content providers, and apparel and textile exchanges.from trade finance to inspections and logistics."

About Fasturn
Fasturn Inc (www.fasturn.com) is dedicated to providing cutting edge procurement technologies, content and services for reducing "trend to delivery" times for manufacturers of made-to-order goods. Fasturn's proprietary technology enables buyers and sellers to streamline sourcing and production using a web-based platform designed to optimize the procurement process, delivering increased margins and workflow efficiencies.

Fasturn's Private Marketplace allows retailers and manufacturers to work with existing suppliers and customers in a secure and private network. Its Private Marketplace solution delivers significant cost and time savings and gross margin enhancement by streamlining communication, standardizing workflow, consolidating data and offering real-time tracking of the production and procurement cycle.

Fasturn's Global Marketplace aggregates the fragmented communities of garment suppliers, agents and buyers by uncovering new sourcing opportunities, condensing the time for sourcing, aiding the import process with quota and import management services and delivering real-time work in process tracking.