Hitatchi, LG Electronics, Matsushita Electric (Panasonic), Nortel Networks, Seagate Technology, Solectron, and Toshiba, along with technology partners Ariba and i2, have announced the creation of, an independent, global business-to-business E-marketplace for the computer, electronics and telecommunications industries.’s electronic marketplace will bring together thousands of computer, electronics and telecommunications companies—of all sizes, worldwide—to plan, manage and execute supply-chain transactions over the Internet. Today, these companies account for approximately $700 billion of goods and services bought and sold in the worldwide electronics industry’s supply chain.

“Matsushita Electric (Panasonic) has joined because we value worldwide, open and efficient purchasing operations,” says Kazuhiko Sugiyama, executive vice president of Matsushita Electric Industrial Co. Ltd. (Panasonic). “We believe that the electronic marketplace using the Internet offers advantages in terms of low procurement costs, better quality, shorter delivery times and overall improved operational performance.” Operations are expected to begin by mid-July.

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