Ford, Oracle announce multi-billion dollar Internet venture

New York (Nov. 4, 1999) — Ford Motor Co. CEO Jac Nasser and Oracle Corp. president and COO Ray Lane announced the formation of the AutoXchange, an automotive e-business integrated supply chain to be created and run by a newly formed joint venture between Ford and Oracle.

The companies plan to immediately begin negotiations of a definitive agreement. The venture will initially facilitate Ford’s $80 billion US in annual purchasing transactions with its more than 30,000 suppliers and $300 billion extended supply chain.

The two companies will create the world’s first automotive online supply chain network, and the world’s largest business-to-business electronic network.

This new online automotive marketplace is expected to dramatically reduce Ford’s purchasing costs and increase its operating efficiencies through an integrated Internet supply chain system, the company said.

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