New Neutral Web Based Auction Service for Buying and Selling Coal

New Neutral Web Based Auction Service for Buying and Selling Coal Swedish company, TradeTool Provider AB, is launching a web based auction service for the buying and selling of industrial commodities. Initially, emphasis will be placed on opening up and simplifying the traditional coal trade. Behind the initiative are Thorleif Jener, Johan Larsson, Carl Adam Rosenblad and Lars Förberg. Together, they have considerable experience in the trading of coal and other commodities. The same can be said for Chairman of the Board, Poul Sachmann, former CEO of ELSAM Denmark, who has more than 30 years experience in the coal trade. "The Internet has created good opportunities for simplifying traditional buying and selling processes. But to be successful, an important condition is that the forum is neutral and completely independent of any player in the market. TradeTool Provider fulfils these conditions," says Poul Sachmann. TradeTool Provider's service is a tool based on the established ways of trading commodities today. The service aims to be a complement and an aid in the traditional process, with an emphasis on pricing. TradeTool Provider has relinquished the conventional Internet concept of a general marketplace, and instead chosen auctions as a forum. In similar industries, auctions have improved the dynamics of business through increased and fairer competition and the fact that each auction results in firm business. "We think that whoever has traded coal in the traditional way, will quickly recognise and feel comfortable in this trading environment," says TradeTool Provider's CEO, Thorleif Jener. "We have chosen to focus on a small part of a well-known process, that is the pricing, which in our opinion provides the greatest specific value to all parties." Visit TradeTool Provider at www.tradetoolprovider.com TradeTool Provider will be present at CoalTrans International in Madrid, 23 - 26 October this year. For more information about the fair, visit www.coaltransconferences.com This is TradeTool Provider: Founded in Stockholm, spring 2000, by current CEO Thorleif Jener, as well as Johan Larsson, Carl Adam Rosenblad and Lars Förberg. The head office is in Stockholm, Sweden. Chairman of the Board is Poul Sachmann, former CEO for ELSAM, Denmark. Funding of the project was completed in July 2000. Operations began October 2000. For more information, please contact Thorleif Jener, thorleif.jener@tradetoolprovider.com Tel + 46 8 - 545 126 20 ------------------------------------------------------------ This information was brought to you by BIT http://www.bit.se The following files are available for download: http://www.bit.se/bitonline/2000/10/05/20001005BIT00450/bit0001.doc http://www.bit.se/bitonline/2000/10/05/20001005BIT00450/bit0002.pdf