New online marketplace for paints and coatings

30-Sep-2000

ANN ARBOR, Mich., Sept. 26 /PRNewswire/ -- coatingsMart, Inc., today launched an online marketplace (http://www.coatingsmart.com) designed to streamline transactions and simplify the exchange of information between buyers and sellers of paints and coatings. coatingsMart has aligned with leading players in the powder coatings industry, including Ferro Corporation, Morton Powder Coatings, The Valspar Corporation and Nordson Corporation, to provide a robust product offering of more than 500 products for the powder coatings industry and a comprehensive range of online services. The company plans to rapidly expand its product portfolio to include additional industrial and specialty coating products. As part of the coatingsMart e-Marketplace launch, the founding suppliers have committed to work with coatingsMart to provide seamless migration for selected customers who wish to take advantage of this new e-channel. With coatingsMart, suppliers improve their market reach and reduce their cost-to-serve. Customers benefit from increased product availability and selection, greater access to product and application information and the convenience of online ordering and shipment tracking. "Our founding suppliers recognize the need to provide buyers with an integrated e-commerce solution," said Brad Lich, co-founder, president and chief executive officer, coatingsMart. "The coatingsMart e-Marketplace brings best-in-class suppliers together in an online marketplace, providing buyers with unparalleled access to information coupled with the speed and accuracy of electronic procurement. " The coatingsMart website enables registered buyers to search or browse a comprehensive online catalog of products with all the critical product attributes and data sheets. Placing orders from multiple suppliers and checking the status of a shipment is only a few clicks away, 24 hours a day, seven days a week, because coatingsMart has integrated credit approval and logistics into its solution. According to Charles rice, coatingsMart's co-founder and chief information officer, the company will continue to add features and benefits to further assist buyers and sellers in reducing costs and gaining efficiencies throughout the procurement process. "Our immediate focus is on flawless execution as we launch the coatingsMart e-Marketplace and bring the convenience of online commerce to the powder coatings industry." The company's technology partners include IBM, the world's largest information technology company, and Lante Corporation, the leading Internet consulting company focused exclusively on creating e-Markets. It has also established a marketing partnership with Devon Direct EURO RSCG, one of the top ten direct marketing agencies in the U.S. and part of the fifth largest global advertising network. About coatingsMart, Inc. Founded in March 2000, coatingsMart provides integrated world-class e-commerce solutions designed to streamline transactions and simplify the exchange of information between buyers and sellers in the highly fragmented paints and coatings industry. coatingsMart has established alliances and/or investment partnerships with some of the industry's leading players, including Ferro, Nordson, Morton Powder Coatings and Valspar, to launch an e-Marketplace that provides buyers with a convenient and efficient channel to manage their paint procurement. As the coatingsMart community grows, the offering will expand to include new e-commerce mechanisms, such as RFQs, customized e-commerce solutions for both buyers and suppliers, and a variety of proprietary value-added services. The company also plans to expand into new global markets as well as into additional industrial and specialty coatings segments.

https://www.chemeurope.com/en/news/121/new-online-marketplace-for-paints-and-coatings.html