Voith with digital marketplace for recovered paper
Voith has joined forces with a subsidiary of the Boston Consulting Group to establish a digital marketplace for paper industry. The joint venture has been named merQbiz after Mercury, the Roman god of trade. “As a technology leader with a profound expertise knowledge, we want to make a significant contribution to the digital transformation of the industry – and with the foundation of merQbiz, we have taken yet another step forward in our digital agenda,” explains Dr. Hubert Lienhard, President and CEO of the group.
The start up company has its headquarters in Manhattan Beach, California. John Fox, previous President of Voith Paper in North America, has been named CEO. The first product solution from merQbiz is the first digital trading platform for recovered paper in the US, initially aimed at market participants of the North American paper industry.
Like ebay & co.
According to the technology group, the North American recovered paper market has so far been characterized by strong fragmentation, with many different market participants, inconsistent supply and logistics chains, low levels of price transparency and fluctuating product qualities. The merQbiz trading platform is said to help traders and buyers from pulp and paper mills, paper brokers and recycling companies to directly network with one another in the future and to receive all the relevant information on supply and demand. They reportedly can also conduct their buying and selling transactions securely on the trading platform. Like many well-known online marketplaces, the platform provider can take over the evaluation of the sellers and buyers and the quality of the merchandize. This is said to ensure enhanced transactional transparency, professional processing and a high level of security for all goods, logistics and payment flows.
According to the group, the trading platform for recovered paper has now been online for around two weeks and has already traded more than 100 tons of recovered paper.