SAP AG's subsidiary SAPMarkets Inc., Babcock Borsig AG and MG Technologies AG said they will create a global online marketplace for plant engineering and mechanical engineering companies.
The marketplace, called ec4ec (e-commerce for engineered components) will be located at www.ec4ec.com, and is scheduled to go live in October, the companies said Monday in a statement. It will encompass the full sourcing cycle, from the specification and design of a new product to order processing. Companies will be able to collaborate on designs, projects and other technical information with potential suppliers, as well as conducting auctions, creating bid invitations and processing purchase orders.
Additional companies will be able to invest in the marketplace or join as participants.
SAPMarkets is the online exchange building unit for SAP. Frankfurt-based MG Technologies is the management holding of a worldwide operating chemicals and engineering group. Oberhausen, Germany-based Babcock Borsig Group supplies turbine-related power station components.