May 2000: SIX of the biggest names in the tyre and rubber industry have announced plans to join forces to develop a global purchasing and procurement market place.

An independent company, RubberNetwork.com, will host the global exchange, which will include Pirelli, Continental, Michelin and Goodyear. In total, the tyre and rubber industry spends more than $50 billion a year on raw materials, equipment, machinery, goods and services.