LOS ANGELES, June 29, 2000 – Kaufman and Broad Home Corporation (NYSE:KBH) today announced the creation of KBBid.com, an online system that allows contractors to submit bids for various construction jobs easier and faster. By allowing plumbers, electricians, framers and other construction trades to bid jobs online, the Company eliminates the need to produce numerous sets of blueprints and also increases the number of competitive bids it receives.
KBBid.com was created and tested in Kaufman and Broad’s Phoenix division. Based on its success in Phoenix, the system currently is being implemented in all markets where the Company builds.
All subcontractors are encouraged to log on to www.kbbid.com to learn more about the password protected system and to pre-qualify to submit bids to work on Kaufman and Broad’s new home developments. The construction trades are often viewed as ‘old economy’ businesses that are slow to adapt to new technologies. The success of KBBid.com demonstrates that builders and subcontractors are willing to embrace new technology.
"We’re extremely pleased that our subcontractors have been so receptive to KBBid.com," said Glen Barnard, president of e.KB, the Company’s e-commerce subsidiary. "We knew they would gradually embrace the idea, but did not expect to see such positive results so quickly."
Kaufman and Broad is known for its innovative programs and is currently involved in numerous online bidding and purchasing initiatives, including several national programs with other major homebuilders. The Company announced a partnership with BuildNet in January 2000 and a partnership with HomebuilderXchange in May 2000.
"We’re confident that both of these initiatives will be extremely beneficial to Kaufman and Broad and to the homebuilding industry in general," Barnard said. "We also see great value in developing our own system – KBBid.com."
The system was conceived by an employee of Kaufman and Broad’s Phoenix division, who was responsible for printing and distributing blueprints to subcontractors. Seeing the wasted time and materials being spent, the employee developed the idea of digitizing plans and putting them online. Working with two other staff members, including a representative from the information technology department, KBBid.com was created.
"The best ideas always come from the individual at ground zero," said Steve Davis, president of Kaufman and Broad’s Phoenix Division. "I’m proud that we have the type of environment at Kaufman and Broad where an employee with a good idea can run with it and make it successful. As a result of her work, we’re rolling out this program to the entire company."
Subcontractors who are interested in bidding for Kaufman and Broad jobs can log on to www.kbbid.com or they can access the site through the Company’s primary Web site, www.kbhomes.com , by clicking ‘Company Information,’ scrolling to the bottom of the page and clicking ‘Online Bidding.’ After qualifying to bid, the subcontractor will receive a password to the secure Web site.
Kaufman and Broad Home Corporation is one of America’s premier homebuilders with operating divisions in Arizona, California, Colorado, Nevada, New Mexico and Texas. Kaufman & Broad S.A., the Company’s majority owned subsidiary, is one of the largest homebuilders in France. In 1999, the Company delivered homes to 22,460 families in the U.S. and in France. It also operates a full service mortgage company for the convenience of its buyers. Founded in 1957, Kaufman and Broad is a Fortune 500 Company listed on the New York Stock Exchange under the ticker symbol "KBH."
For More Information Contact:
Kate Mulhearn
(310) 231-4015
kmulhearn@kbhome.com