MaterialNet.com and OnlineMetals.com Form Strategic Alliance; Two Forbes 'Best of the Web' B2B Sites Team Up To Benefits Customers

Business Wire, July 17, 2000

Business/Hi-Tech Editors

LAKE SUCCESS, N.Y. & SEATTLE--(BUSINESS WIRE)--July 17, 2000

MaterialNet.com (www.materialnet.com), an e-marketplace providing a full suite of products to buyers and sellers of industrial metals, and OnlineMetals.com, a stocking distributor of cut-to-length smaller orders for businesses and individuals, today announced a strategic alliance to benefit both small and large clients who transact metals online.

Customers of each company, regardless of size, benefit because they can now draw upon the combined products and services of both sites. At the same time, the partnership allows both organizations to focus on their respective core competencies.

"It allows our buyers to get competitive quotes on small orders from OnlineMetals.com and to focus their larger transactions on MaterialNet.com's core service center business," said Joe Pecoraro, senior vice president, business development, MaterialNet.com.

John Byrum, president of OnlineMetals.com noted that the agreement creates greater efficiency for both organizations, as well as enhanced overall customer service. "Now, we can accommodate customers who want to place larger orders," said Byrum, "and MaterialNet.com will refer clients to us that require smaller quantities of metals. There is tremendous synergy in this alliance," he added. OnlineMetals.com ships directly via UPS from its own warehouse -- usually within 24 hours -- thereby providing fast turnaround on small orders.

"This agreement addresses our buyers' small quantity needs while allowing our suppliers to focus on more traditional service center business," added Mr. Pecoraro. "We are excited to work with OnlineMetals.com because of their reputation for quality material, customer service and on-time delivery."

About MaterialNet.com

MaterialNet.com offers a comprehensive suite of products for the online buying and selling of all industrial metals. The company offers end-to-end e-commerce solutions to original equipment manufacturers (OEMs), service centers and primary mills. A worldwide phased expansion into all raw materials is planned. The site was launched in November 1999 and now features suppliers representing more than $30 billion in total annual revenue. The company secured $12.5 million in its first institutional round of funding in March 2000 and was selected as one of the "Best of The Web" by Forbes.com in July 2000.

About OnlineMetals.com

Seattle-based OnlineMetals.com is an Online Metals Service Center that allows customers to buy, cut, pack and ship a large variety of metals in smaller quantities, saving time, money and eliminating unwanted inventory for the customer. Its mission is to give a new level of efficiency to all metals buyers, from the purchasing agent of any major corporation in America to the hobbyist. OnlineMetals.com provides a fast and cost effective way to purchase their metal products. The company offers stainless steel, tool steel, aluminum, copper, brass, titanium, alloy steel, cold-rolled steel, plastics and more. OnlineMetals.com was chosen as one of Forbes "Best of the Web" in July 2000.