6 tire companies forming e-commerce site

AKRON (April 17)—Six tire makers have joined the e-commerce bandwagon, and will launch a global purchasing and procurement joint venture by the end of 2000. The independent company—expected to be called RubberNetwork.com—will serve as a global purchasing and procurement site for the companiesÏGoodyear, Groupe Michelin, Cooper Tire & Rubber Co., Pirelli Group, Continental A.G. and Sumitomo Rubber Industries Ltd. The partners, in a statement, said total purchases for the tire and rubber industry account for more than $50 billion a year on raw materials, equipment, machinery, goods and services. The exchange "will also welcome the opportunity to work closely with other exchanges, especially those associated with the auto industry," the partners said.