SEATTLE (AP) -- Four of the world's largest aerospace companies have banded together to create an Internet commerce site for their customers and suppliers, buying and selling everything from raw materials to engine parts.
The Boeing Co. of Seattle, Lockheed Martin Corp., Britain's BAE Systems and Raytheon Co. of Lexington, Mass., will all have an equity stake in the joint venture, which is expected to be up and running by this summer.The four companies, which signed a memorandum of understanding to start the "electronic marketplace" for the aerospace industry, said Tuesday they are working with Commerce One, which supplies the software and hardware needed for large electronic commerce Web sites. Microsoft Corp. also will supply technology for the new venture.