RealTime IT News

Construction Materials Marketplace Launched

Construction industry e-commerce company Cephren Inc. launched its Cephren MarketNet site for buying and selling construction materials and equipment.

The first of several MarketNet products, the bidding service facilitates e-commerce transactions between contractors and construction materials distributors in a virtual online trading community.

Cephren said that MarketNet is currently limited to a select group of charter customers who are conducting transactions online and assisting the company in enhancing the operation. This charter group represents more than $1.5 billion in potential purchases annually and includes Mass Electric Construction Co., E-J Electric Co., J. A. Penney Co., Liberty-Wesco, Fischbach & Moore LLC, DualStar Technologies, Forest Electric (EMCOR), Midwest Mechanical of New Jersey, and Watsco.

"Launching MarketNet's bidding service is a major step toward our goal of becoming the standard in Web-based procurement for the construction industry," said Timothy S. Perini, vice president of business development and marketing at Cephren.

"Our charter e-commerce customers can get better pricing from vendors and eliminate time-consuming paperwork while suppliers and distributors can increase the number of bids they respond to, thereby adding to their revenues and expanding market reach."

MarketNet saves time by allowing multiple RFQs to be sent out at once, electronically, rather than one-by-one over the fax machine.

Cephren also operates integrated, online collaboration and e-commerce services called ProjectNet and PrintNet.