RubberNetwork.com, LLC Announces a Ninth Member, Hankook Tire Co., Ltd.

Apr 26, 2001, 01:00 ET from RubberNetwork.com, LLC

    ATLANTA, April 26 /PRNewswire/ -- RubberNetwork.com, LLC, a global
 electronic purchasing and procurement marketplace created by six leading
 companies in the tire and rubber industry, announced the addition of the ninth
 major tire company to the marketplace.  Hankook Tire Co., Ltd., of Korea has
 become a member of RubberNetwork.com, LLC.
     RubberNetwork.com(SM) announced in February that they had received
 approval from the German Federal Cartel Office (Bundeskartellamt) clearing the
 transaction and giving a green light to the establishment of the marketplace
 and to the commencement of its operations.  The Marketplace Platform went live
 April 9, with the first North American business release.  This will be
 followed by progressive launches of functionality in North America, and in
 turn, followed by launches in Europe and Asia in the course of 2001 and
 thereafter.
     Bob Webster, vice president of operations, noted the company is evolving
 around the globe.  "We have teams preparing, progressively, for the European
 and Asian launches during the second half of 2001.  In late February, we
 officially welcomed Yokohama and in early March we officially welcomed Toyo."
 Webster continued to describe the evolution of the business -- "Just as we
 have Founder-loaned employees starting to build European operations in a
 temporary European Headquarters in Amsterdam, in April, we initiated the same
 process with Asian Member-loaned employees in Makuhari, Chiba, Japan."
     The RubberNetwork(SM) membership now includes nine of the largest
 companies in the tire and rubber industry.  They are: Continental AG; Cooper
 Tire & Rubber Company; The Goodyear Tire & Rubber Company; Groupe Michelin;
 Hankook Tire Co., Ltd.; Pirelli SpA; Sumitomo Rubber Industries; Toyo Tire and
 Rubber Co., Ltd.; and The Yokohama Rubber Co., Ltd.  The nine members
 represent more than half of the industry's global tire manufacturing capacity.
 Total purchases for the industry are estimated at more than $50 billion a year
 on raw materials, equipment, machinery, goods and services.
     The RubberNetwork marketplace will be open to all tire and rubber industry
 manufacturers and suppliers.  Webster noted, "Our buy-side marketplace model
 encourages sellers to derive value by actively utilizing all of the
 RubberNetwork service offerings.  We also welcome the opportunity to work
 closely with other existing and future exchanges."
 
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SOURCE RubberNetwork.com, LLC
    ATLANTA, April 26 /PRNewswire/ -- RubberNetwork.com, LLC, a global
 electronic purchasing and procurement marketplace created by six leading
 companies in the tire and rubber industry, announced the addition of the ninth
 major tire company to the marketplace.  Hankook Tire Co., Ltd., of Korea has
 become a member of RubberNetwork.com, LLC.
     RubberNetwork.com(SM) announced in February that they had received
 approval from the German Federal Cartel Office (Bundeskartellamt) clearing the
 transaction and giving a green light to the establishment of the marketplace
 and to the commencement of its operations.  The Marketplace Platform went live
 April 9, with the first North American business release.  This will be
 followed by progressive launches of functionality in North America, and in
 turn, followed by launches in Europe and Asia in the course of 2001 and
 thereafter.
     Bob Webster, vice president of operations, noted the company is evolving
 around the globe.  "We have teams preparing, progressively, for the European
 and Asian launches during the second half of 2001.  In late February, we
 officially welcomed Yokohama and in early March we officially welcomed Toyo."
 Webster continued to describe the evolution of the business -- "Just as we
 have Founder-loaned employees starting to build European operations in a
 temporary European Headquarters in Amsterdam, in April, we initiated the same
 process with Asian Member-loaned employees in Makuhari, Chiba, Japan."
     The RubberNetwork(SM) membership now includes nine of the largest
 companies in the tire and rubber industry.  They are: Continental AG; Cooper
 Tire & Rubber Company; The Goodyear Tire & Rubber Company; Groupe Michelin;
 Hankook Tire Co., Ltd.; Pirelli SpA; Sumitomo Rubber Industries; Toyo Tire and
 Rubber Co., Ltd.; and The Yokohama Rubber Co., Ltd.  The nine members
 represent more than half of the industry's global tire manufacturing capacity.
 Total purchases for the industry are estimated at more than $50 billion a year
 on raw materials, equipment, machinery, goods and services.
     The RubberNetwork marketplace will be open to all tire and rubber industry
 manufacturers and suppliers.  Webster noted, "Our buy-side marketplace model
 encourages sellers to derive value by actively utilizing all of the
 RubberNetwork service offerings.  We also welcome the opportunity to work
 closely with other existing and future exchanges."
 
                       MAKE YOUR OPINION COUNT -  Click Here
                  http://tbutton.prnewswire.com/prn/11690X85175409
 
 SOURCE  RubberNetwork.com, LLC