Published: 8 May 2000 15:28 GMT
Five of the UK's leading construction companies have joined forces as partners in an ecommerce site for the building trade.
The venture, named Mercadium, has been set up by three entrepreneurs, Jerome Losson, Robert Gill and Emma Welsh, who will maintain a 20 per cent holding following an initial investment of £1m.
The companies involved, Aggregate Industries, Alfred McAlpine, BPB, Pilkington and RMC, said the site will enable a reduction in costs by streamlining procurement across Europe.
Existing sites for the construction industry include Build-Online.com and EU-Supply.com.
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