London, January 23 2001 - sparesFinder and GoIndustry, two business-to-business (B2B) companies which together help industry better manage, market, and dispose its idle or used capital equipment and spares, have announced a unique partnership agreement this week. The arrangement delivers broader value to industrial customers while maintaining the expertise and focus of each dedicated Internet business. It also marks an important step in the way market-specific B2B firms are responding to evolving Internet usage and site needs.
London-based sparesFinder enables companies to create visibility of their critical spare parts inventory, via the online pooling of information through its core product, Virtual Pooled Inventory (VPI). SparesFinder’s VPI delivers one-stop capability for industrial subscribers to identify and optimise their spare parts held in any system in any part of the world. GoIndustry is a European B2B company focused on disposing surplus industrial equipment through its online marketplace, offline auctioneer network and trading activities. In addition, GoIndustry offers equipment valuation services and internal asset redeployment solutions.
The two companies will cross-promote each other through their direct sales forces and on their web sites (www.goindustry.com; www.sparesfinder.com). Thus a sparesFinder client who wishes to buy or sell any surplus equipment will be able to do so seamlessly via GoIndustry's online marketplace or offline auctioneers and trading services. Similarly, GoIndustry customers will be able to search for any spare parts they need in sparesFinder's VPI database.
sparesFinder’s operations director David Stroud points out, "The clientele of sparesFinder very much corresponds with that of GoIndustry, so both companies can combine their efforts in order to offer their customers more comprehensive products and services, all from a single Internet point of contact."
GoIndustry’s executive vice president of business development, David Nahama notes that "The services provided by both companies are complementary. This is a way to combine our expertise in disposing of assets with sparesFinder's expertise at linking information and users. The sparesFinder team is a quality group of people with real experience learned in the most valuable way: in the marketplace."
GoIndustry’s David Nahama sums it up: "The marketplace speaks for itself, and we’re listening intently. Co-operation between GoIndustry and sparesFinder has already begun, and we are thrilled to be working together."
GoIndustry is an international, business-to-business (B2B) trading platform for used and surplus equipment. By focusing on selected equipment categories, GoIndustry can offer a large volume of equipment for online trading. GoIndustry extended its strong market position through the acquisition of Karner & Co. AG, a traditional auction house based in Frankfurt, in October 2000.
In two rounds of funding, GoIndustry received a total of more than 50 million euros from Atlas Venture and the Internet Capital Group (ICG). The company has offices in London, Munich, Paris, Istanbul and Warsaw and services markets in Europe, Asia and the Middle East. Further information is available under http://www.goindustry.com
sparesFinder has extensive international representation in over 40 countries, with more than 80 clients operating the sparesFinder system at more than 200 sites worldwide. The sparesFinder database currently features an estimated 27 million items worth a conservative £1 billion. The company featured strongly in the most recent Sunday Times E-league of the top 100 European B2Bs and counts amongst its major customers BP Exploration, Sasol (South Africa), British American Tobacco, Rolls Royce, ExxonMobil, Texaco, Agip, Marathon Oil, Du Pont, Anglo Gold (South Africa), BHP (Australia), Daya Bay Power Station (China) and Maersk (Denmark).
Vicki Entwistle/ Laura Bicknell
The Weber Group Europe
Tel: 020 7240 6189
Peter Varey Associates
Tel: 020 7359 5453
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