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Top Tire Companies Launch Global E-Commerce Initiative: RubberNetwork.com

17 April 2000

Top Tire Companies Launch Global E-Commerce Initiative: RubberNetwork.com

    AKRON, Ohio, April 17 Six of the largest companies in the
tire and rubber industry announced their intention today to develop a global
purchasing and procurement marketplace.
    RubberNetwork.com -- an independent company -- will host a global
exchange, which will include Continental, Cooper, Goodyear, Michelin, Pirelli
and Sumitomo Rubber.  Total purchases for the tire and rubber industry
represent more than $50 billion a year spent on raw materials, equipment,
machinery, goods and services.
    The exchange will enable members to increase the efficiency of their
operations and to achieve substantial savings in the cost of doing business.
Each transaction will be protected by appropriate firewalls to ensure the
confidentiality of each company's individual business activities.
    Participating members are convinced that the initiative will achieve
significant savings and efficiencies in the purchasing and procurement end of
the value chain.  It will provide e-business solutions tailored to their
industry, thereby allowing them to better serve their customers.
    The exchange will also welcome the opportunity to work closely with other
exchanges, especially those associated with the auto industry.
    The exchange will be open to all manufacturers and suppliers within the
industry and is expected to be operating before the end of the year.