Latin American Online Trading Post Created
Brazilian groups Bradesco and Votorantim and two Mexican conglomerates teamed up to create an online marketplace to trade goods and services across Latin America, along with U.S. software maker Ariba Inc. Bradespar, a unit of financial group Bradesco, and the venture capital arm of industrial firm Votorantim joined forces with Mexican cement maker Cemex and Mexico’s biggest industrial group, Alfa, to form online company Latinexus. Miami-based Latinexus is expected to be operating by year-end. The partners estimate that trading of raw materials in Latin America will total $700 billion by 2003, with about 10% of the trade taking place over the Internet.
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