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Technology | TECHNOLOGY IN BRIEF

Paper Companies Plan Online Venture

March 24, 2000|Bloomberg News

International Paper Co., Georgia-Pacific Group and Weyerhaeuser Co. plan to create an Internet-based venture to cut costs and make purchases easier in the $200-billion U.S. paper and forest industry. The nation's three largest forest products companies said they will own equal stakes in the venture, which they expect to attract other companies. The companies may consider selling shares in the venture to the public. They plan to start operating the site in the third quarter after completing the agreement within 90 days, said a Georgia-Pacific spokesman.

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