Manufacturing Industry
FTC OK drives Covisint closer to launch.
Plastics News, September, 2000 by Miel, Rhoda
DETROIT -- Covisint, the North American automakers' Internet-based trade exchange, could open for business before the end of this year with the first dollars of an estimated $300 billion worth of purchases crossing the electronic wires. The Federal Trade Commission gave its approval Sept. 11.
Now only Germany's federal cartel office in Bonn, Das Bundeskartellamt, stands in the exchange's way. Officials with Ford Motor Co. and DaimlerChrysler AG say they expect full acceptance in the fourth quarter, with trading to begin within 30 days afterward. Alice Miles, who leads Ford's planning team in Covisint, said in a telephone news conference that FTC approval "represents a major milestone for us as we move ahead in the planning stages." Dearborn, Mich.-based...
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