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In the Press

Brite buys into site Business India May 15 to 28 2000 Issue

The Rs 150-crore Brite Group, manufacturer of plastic products, has brought a 15 per cent stake in polymerupdate.com, a polymer web site. Originally launched by polymer traders and plastic processors, the site contains news, research, and information on the industry, and is now entering the e-commerce space by creating a marketplace to allow online trading of plastic resins and compounds. Brite Group chief Suresh Bhojwani will join the board of polymerupdate.com. Around 5,000 traders are already registered at the site which aims to be a demand aggregator for small plastic processors by creating buyer pools and allowing suppliers to bid for them. Charter members like Brite, which own equity in polymerupdate.com, will commit on trading on the site.