FRAMINGHAM (03/24/2000) - Paper giants Georgia-Pacific Corp., Weyerhaeuser Co. and International Paper will jointly develop an Internet marketplace connecting them to suppliers, the companies said in a statement.
The marketplace will allow customers to buy and sell paper and forest products online, the companies said. International Paper, Weyerhaeuser and Georgia-Pacific said the venture will simplify purchasing operations, reduce inventories and cut internal costs.
Purchase, New York-based International Paper sells paper and forest products.
Georgia-Pacific, in Atlanta, manufactures and distributes pulp, paper and building products. Weyerhaeuser, in Federal Way, Washington, calls itself an integrated forest product company. According to the firms, the U.S. paper and forest products industry ships more than $200 billion in product annually.
The marketplace will operate as a separate entity, and the companies said the search for a CEO is under way. Each company will have an equity stake in the marketplace, and more partners are expected to join.