TOLEDO, Ohio (July 6, 2000) — The world’s largest maker of light-truck axles plans to join an Internet purchasing site formed by General Motors Corp. and other automakers to cut costs and increase their buying leverage.
Dana Corp. is the latest member to sign on with General Motors, Ford Motor Co., and DaimlerChrysler AG, which formed the Covisint exchange in February to combine online purchases.
Covisint has sent letters to about 40 automotive suppliers seeking participation on the exchange’s advisory council. Other parts-makers that have joined the Covisint exchange include Delphi, Johnson Controls Inc., Lear Corp., and Federal-Mogul Corp. International members include Magna International Inc. and Japan’s Yazaki Corp.
Operation of the purchasing exchange is expected to begin in the fourth quarter, pending completion of an antitrust inquiry. The U.S. Federal Trade Commission wants to make sure Covisint won’t lead to collusion among members.
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