BCE Emergis an OMKT partner - I wonder if OMKT is involved here.
BCE Emergis Launches New Business to Business Auctioning Technology
Forestry Industry is the first client
Montréal, May 6, 1999 -BCE Emergis announced today that the Company is launching a new business to business auctioning technology that will enable enterprises to bid on-line and therefore lower material costs and reduce inventory holding cost. BCE Emergis is launching this new technology with an electronic auction pilot called Electronic Negotiation System (ENS) that will unite on line and in real time woodchip producers and buyers. The pilot project will start during the summer and will include several paper mills and sawmill companies.
"We are very excited to work with BCE Emergis to offer the forestry industry an innovative and better way to exchange information" said Claude Paradis, President, Quebec Woodchip Producers Association. "With BCE Emergis' technology, we were able to set the pace for a better way to manage our renewable natural resources. Indeed, with ENS, the industry's members will always be aware of product availability."
Through the electronic auction ENS, the Quebec woodchip producers will offer to the paper mills the possibility to choose and to buy a part of their production. This electronic market place will only be accessible to buyers and sellers in the forestry industry. The transactions' security and confidentiality will be ensured by BCE Emergis' Electronic Business Network adapted for the industry's needs.
ENS originated from research projects that were made in collaboration with the Centre for Interuniversity Research and Analysis on Organizations (CIRANO) specifically to create an electronic negotiation mechanism that would become the center of other industries virtual market places.
"The business to business electronic auctioning is a new model that will flourish in all vertical markets. Auctions make the most sense in industries plagued by inventory headaches", said Christian Trudeau, Executive Vice President and Chief Operating Officer, BCE Emergis. "The woodchip industry alone represents a market of $600 million in Quebec and with all the money tied up in large, high-cost warehouses, it represents a phenomenal potential in terms of commerce via electronic auctioning."
The Quebec Government issued a statutory order in February 1999 ordering that up to 3% of all 1999 woodchip production be sold outside of Quebec through an electronic network. According to the statutory order, all woodchip transactions have to be done by electronic market and thus, accessible to all Quebec buyers. This statutory order was issued in order to encourage the development of the Quebec Inforoute and to enhance the forestry industry's competitiveness. The forest industry in Quebec has an annual economic value of $8 billion.
BCE Emergis delivers network-centric e-commerce services that improve customer processes through the exchange of secure transactions. Combining e-commerce services, network connectivity, security and e-payments solutions through industry verticals , BCE Emergis offers a full suite of core technologies that are the essential building blocks for electronic commerce. BCE Emergis is among the top electronic commerce providers in North America and is listed on the TSE 300 Composite Index. For more information, please refer to www.emergis.com.
This news release contains certain forward-looking statements that reflect the current views and/or expectations of BCE Emergis with respect to its performance, business and future events. Such statements are subject to a number of risks, uncertainties and assumptions. Actual results and events may vary significantly.
For more information:
Anne Belliveau
General Manager Corporate Communications
BCE Emergis
(514) 868-2232
Email: abelliveau@emergis.com
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