Six of the largest companies in the tyre and rubber industry will develop a global purchasing and procurement market place.
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 tyre 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.