Cargill announces online exchange
15 March 2000
Cargill announces online exchange
AGRIBUSINESS giant Cargill and fellow US company Ariba, Mountain View, are to form a business-to-business online exchange for food and beverage manufacturers and their suppliers.
The new business will be called Novopoint.com.
The exchange will give buyers and sellers of food ingredients, packaging and related services a place to connect and manage their supply chains, reports dmnews.com.
Novopoint.com will include buyers and suppliers of oil, sugar, colourings, packaging, chemicals and freight.
The company says it will be operated by a neutral, independent company, with a majority of equity ownership held by companies in the food and beverage industry.
Earlier this month Cargill announced it was joining forces with US chemical company DuPont and US farm co-operative Cenex Harvest States to launch an electronic marketplace.
The three companies will have an equal stake in the new venture, called Rooster.com, which should be online by 1 May.
The venture aims to deal both with farm procurement and marketing of farm output.