Industrial Companies Form E-Biz Venture

Compiled ByDeborah Austin To serve the $44 billion North American power-transmission and motion-control industry, four global firms have formed an independent e-business and logistics corporation -- CoLinx, LLC. Founders: Milwaukee-based Rockwell Automation, industrial automation manufacturer; Canton, Ohio-based The Timken Co., bearings and alloy steels manufacturer; Germany-based INA Holding Schaeffler KG, bearing systems and engine components manufacturer; and Sweden-based The SKF Group, bearings supplier. Their approximate size range: US$2.6 billion to $4.8 billion. CoLinx will acquire shared logistics operations of Rockwell and SKF, and Rockwell e-business Web site PTplace.com. An expanded PTPlace will include all founding company product lines by an April 2001 launch. In Europe, Sweden-based high-tech engineering firm The Sandvik Group joins the four in acquiring the shares of industrial e-business service provider Endorsia.com International AB.