E-Minister Launches Timberweb , Lumber E-Marketplace: Putting Excitement Into Timber & Lumber Trading

Furniture World Magazine

UK E-Minister Patricia Hewitt officially launched the new Ariba based B2B trading system for the timber industry developed by TIMBERWeb.COM PLC, the leading Global Timber eMarket. The TIMBERWeb eTrader provides a neutral online solution for Buyers and Sellers to trade timber using the internet. Its user-friendly, secure online business environment offers Buyers a dynamic RFQ (Request For Quotation) system to purchase from their regular Sellers or new Sellers that are in the market. A legally binding eContract has been developed to enable traders to conclude deals online. Keith Richmond, Chairman and CEO of TIMBERWeb.COM PLC, said: "We fully expect that Buyers, Sellers and Intermediaries will benefit from using our eTrader. It is cost-effective and efficient e-communications thereby reducing transaction costs and provides some integration into existing software. "Our trading system will enable Buyers of timber (lumber) to seek new Sellers and they can expect to pay less for their timber (lumber) as market inefficiencies are gradually removed. We anticipate Sellers, particularly the early adopters, to benefit by being able to adjust their businesses earlier to the new competitive environment and find new Buyers for their products." "The timber (lumber) market is extremely fragmented and, although longstanding relationships exist between Buyers, Sellers and Intermediaries, our new eTrading system offers traders significant advantages in terms of choice, transparency and time. Industry knowledge, international trade & cultural differences and neutrality form the basis for an eMarket focused specifically on the needs of timber Buyers and Sellers." The company chose to use the Ariba Dynamic Trade software platform to develop the eTrader, used by many Fortune 500 companies, in order to support scalability to high transaction volumes globally and to inspire the confidence of users that underneath the sophisticated 'timber & lumber friendly interface' is a tried and tested engine. Mrs Hewitt officially launched the eTrader via a video link at the 'Elmia Timber' exhibition taking place in Sweden. TIMBERWeb.COM PLC is one of the world's leading eMarkets for the timber and forest products industry. Earlier this year it was judged the Mid-Corporate @chiever 2000 in an awards scheme sponsored by Barclays Bank and the Sunday Telegraph newspaper. It was also judged a winner in the ISI eCommerce Awards 2000 sponsored by the DTI, and is also a finalist in the E-Commerce Excellence Awards sponsored by Computer Weekly magazine to be held next Month. The company demerged from KDM International PLC, a leading UK timber trading business of some 25 years standing, on September 1 to reinforce the independence and transparency of its eMarket. TIMBERWeb.COM PLC, headquartered in Suffolk, UK, was launched commercially in 1997 as one of the world's first interactive online timber and forest product communities. It publishes comprehensive news and content information designed specifically for Buyers and Sellers of timber. It has the world's largest on-line database of timber businesses, daily industry and world news headlines, an interactive message board and stocklist facility, a jobs section, interactive market research, and a comprehensive industry based calendar. For further information contact: Paul Harris, Director News and Content +44 (0) 1473 632636 mobile 07974 322658 e-mail: paul@timberweb.com Keith Richmond, Chairman and CEO +44 (0) 1473 632636 mobile 07770 688400 e-mail: keith@timberweb.com