New dot.com will bring together buyers and sellers of aluminum

By Staff -- Purchasing, 3/23/2000

Aluminium.com, a business-to-business Internet company established in 1999, announced last month that their e-marketplace for procurement and sales of all grades of aluminum will be live and available for use by the end of this spring.

"In today's highly fragmented and time-consuming nonferrous metals industry, purchasing departments, traders and sellers all work the phones in an attempt to match sellers' products with buyers' exact requirements," says Alan Kestenbaum, president and CEO of aluminium.com. "Through technology, aluminium.com will eliminate the inefficiencies that exist in the market by streamlining products and services in one location."

Aluminium.com is trying to carve out a new niche on the Internet for the aluminum industry. Worldwide consumption of aluminum was $91.2 billion in 1998, while the total worldwide trading volume exceeded $1 trillion, according to the Aluminum Association and Sogemin Metals Review. Andersen Consulting says that 40% to 60% of all metal produced in the world will be sold through the Internet by 2005.

The company says a beta demo of how the electronic exchange will work can be viewed at www.aluminium.com.

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