B2B e-Marketplace Launched for the Metal Casting Industry

Dayton, Ohio -- buyCASTINGS.com Inc., an Internet based technology company, has been launched to facilitate business-to-business electronic commerce for the metal casting industry. Over $30 Billion worth of castings are bought and sold in the United States and the market is nearly $120 Billion worldwide. There are 3000 metal casters in the U.S. With over 450 of them in Ohio, which leads the nation.

buyCASTINGS.com gets 2-3 new customers a week over the Internet. The customers of metal castings, which include GE, P&G, Superior Tool Co., Honeywell, and SemiTool are matched with the qualified foundries that have registered with the site. Over 230 foundries worldwide, from Germany, Australia, India, Israel, France, United States, and several other countries, have now registered. In its pilot phase, from February-September 2000, the site has gained an average of one new foundry a day, 7 days a week.

The pilot phase was funded by The Edison Materials Technology Center (EMTEC). The site and the associated assets were sold by EMTEC to Mr. Bob Dzugan and Mr. Neil Chaudhry, founder and co-founder, respectively, of buyCASTINGS.com Inc. EMTEC plans to continue to partner with buyCASTINGS.com in the future through collaborative projects to help Ohio industries.

buyCASTINGS.com Inc. has raised over $650,000 in its 1st round of funding which is expected to close October 10, 2000. buyCASTINGS.com plans to unveil a redesigned site with additional features and functions at a national trade show in mid-October.