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May 2, 2000
Eight Leading Metals Companies Form Metalspectrum, an Independent Neutral Online Site to Serve Manufacturers, Distributors and Customers in the Specialty Metals Business
ATLANTA--May 2, 2000--
MetalSpectrum will offer both buyers and sellers a comprehensive
range of specialty metals and business services beginning in September
Alcoa Inc., Allegheny Technologies, Kaiser Aluminum, North American
Stainless, Olin Corporation, Reynolds Aluminum Supply Company, Thyssen
Inc., NA and Vincent Metal Goods/Atlas Ideal Metals today announced the
establishment of MetalSpectrum, an independent neutral online
marketplace designed to reduce costs and increase market opportunity for
the entire supply and demand chain - from manufacturers to distributors
to customers - in the $200 billion global specialty metals industry. The
Web site is expected to be fully functional by September 2000.
The MetalSpectrum initial partners have agreements in place to enable
the site to provide market access to a comprehensive range of specialty
metals including aluminum, stainless steel, copper, brass, nickel alloys
and titanium at significant volumes.
MetalSpectrum is about the specialty metals industry getting closer to
its customers, said Alain J.P. Belda, Alcoa president and chief
executive officer. Our customers expect their suppliers to continuously
improve the value of the products and services delivered to them. As
industry leaders, the eight partners of MetalSpectrum are responding by
creating a unique and neutral online marketplace. The industry will
benefit from the increased market reach and reduced costs that
electronic commerce offers.
Thomas A. Corcoran, Allegheny Technologies' president and chief
executive officer added, MetalSpectrum is unique because it offers a
broad portfolio of specialty metals products and services tailored to
meet the needs of buyers and sellers alike. Significantly, the leaders
of specialty metals manufacturing and distribution support this venture.
MetalSpectrum will enable us to provide customer-oriented solutions
using the very latest B2B technology.
In commenting on today's announcement, Kenneth J. Graham, president and
chief executive officer of Thyssen Inc., NA, pointed to MetalSpectrum's
neutrality and future as an independent entity. This is a truly neutral
site allowing equal access to every buyer and seller. There are no
preferential trading positions for the founding partners.
MetalSpectrum is currently under the guidance of a Board drawn from the
ranks of the initial partners and has been supported from its inception
by members of the Boston Consulting Group.
Graham continued, The partners have appointed Alcoa's Robert Wetherbee
as acting CEO to move us aggressively toward our September launch.
In addition, the MetalSpectrum management team expects to announce its
choice of a technology partner within two weeks. The new company will be
headquartered in Atlanta.
For more information about MetalSpectrum, please visit
Site Features and Customer Service Functions
MetalSpectrum will demonstrate exceptional breadth and depth of products
and services brought by both the site's functionality and its network of
manufacturers and distributors. To provide market access to sellers and
pricing transparency to buyers, MetalSpectrum will support core exchange
» Prime Metals Catalog - comprehensive product listing and searching
capabilities for a wide range of products
» MRO Catalog - offers highly efficient purchasing capability of
maintenance, repair and operating supplies
» Forward and Reverse Auctions - for buying, selling and procuring prime
products as well as providing a platform for electronic Requests for
» Additionally, the site will eventually support the transaction process
with financing, logistics and reporting services.
MetalSpectrum plans to be a leading online neutral marketplace for
aluminum, stainless steel and other specialty metals. The initial
partners are Alcoa Inc., (NYSE: AA), Allegheny Technologies (NYSE: ATI),
Thyssen Inc., NA, North American Stainless, Kaiser Aluminum (NYSE: KLU),
Olin Corporation (NYSE: OLN), Reynolds Aluminum Supply Company, a
division of Reynolds Metals Company (NYSE: RLM) and Vincent Metal
Goods/Atlas Ideal Metals. The site is expected to be fully functional by
About the Initial Partners
» Alcoa Inc. -- world's leading producer of aluminum, fabricated
aluminum and alumina.
» Allegheny Technologies Incorporated - leading global producer of
specialty materials, including flat-rolled stainless steel as well as
nickel alloy and titanium products.
» Kaiser Aluminum - leading producer of alumina, primary aluminum,
flat-rolled products and engineered products.
» North American Stainless - leading manufacturer of flat-rolled
stainless steel products.
» Olin Corporation - global basic materials company and leading North
American producer of copper alloys.
» Reynolds Aluminum Supply Company (RASCO) - North America's largest
aluminum distributor and a leading supplier of stainless steel and other
» Thyssen Inc. North America -- Thyssen Inc., NA, through its TMX
Division is a leading North American distributor and processor of steel,
non-ferrous metals and plastics.
» Vincent Metal Goods/Atlas Ideal Metals (Rio Algom Metals Distribution)
-- one of the largest metals distribution businesses in North America.