Build-Online.com was launched in France on March 6th and is the first electronic Business to Business site aimed at the construction industry a sector with an annual turnover in France of FF 715 bi...

Build-Online.com was launched in France on March 6th and is the first electronic Business to Business site aimed at the construction industry a sector with an annual turnover in France of FF 715 billion. With the support of American and European investors, such as Global Retail Partners, Viventures (Vivendi), Goldman Sachs and BancBoston Capital, Build-Online.com has announced secondary financing of FF 108 million, intended to finance its expansion within France and across Europe. Thanks to the gains in efficiency and productivity throughout the construction cycle, electronic business applied to the construction industry (e-construction) will enable the sector to make annual savings of approximately FF 163 billion. Materials and services, which represent 65% of total construction costs, can now be bought on Build-Online.com’s virtual marketplace, a meeting point for suppliers and purchasers. All parties involved in a building job (80 persons on average for each project) will be able to manage, on-line, all the stages of the construction process, through a collective project management tool. Build-Online.com is expecting to make an annual total of FF 19 million of projects and transactions, by the end of its first year of activity. Build-Online.com as founded in 1999 in Ireland, and was quickly adopted by all the major purchasers, suppliers and specifiers. Over 50 % of Irish purchasers joined the site within its first six months of activity. The projects whose management is carried out on-line, using Build-Online.com, since its launch in January in the United Kingdom, now represent over FF 1,3 billion. The company is now planning to receive a certain number of European projects on its site over the coming weeks its negotiations currently underway represent a total value of FF5,2million. (Christine Weissrock - Atelier Paribas 13/03/2000)