Atlanta, Georgia--Rubbernetwork LLC announced that it made savings of over $100 million for its member companies during 2004. The company now has over 140 suppliers and nine tyre makers connected to its supply chain supplier network.
"2004 Sourcing savings results for RubberNetwork Members were $105 Million, passing the $100 million mark for the first time. This was a 10 percent improvement over the previous year, and in total, sourcing savings for RubberNetwork's nine members are $230 million since RubberNetwork began operations in mid 2001" said Philip Ringo, Chairman and CEO of RubberNetwork.
The company noted that the savings were in all regions served by RubberNetwork: Asia, Europe, Latin America, and North America. They represent strategic sourcing of a wide range of direct and indirect material, goods, and services, and were achieved through single-member events and multi-member collaborations. RubberNetwork's sourcing of direct materials is conducted under the guidance of applicable anti-trust law.
RubberNetwork also announces its intention to establish a fifth office, in Shanghai, by the end of the first quarter. RubberNetwork has offices in Amsterdam, Atlanta, Singapore, and Tokyo and will open an office in Shanghai in early 2005. RubberNetwork also provides its services to Member companies in Latin America through a partner company, Webb Negocios, headquartered in Rio de Janeiro, Brazil.
RubberNetwork is the tyre and rubber industry's leading global consortium. Owned by nine of the industry's leading companies, Continental Tire, Cooper Tire and Rubber, Goodyear, Hankook, Michelin, Pirelli Tire, Sumitomo Rubber, Toyo Tire and Rubber, and Yokohama Rubber.
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press release from RubberNetwork
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