Covisint, the automotive industry's planned global trading exchange announced earlier this year, is fast building a solid roster of blue-chip companies eager to use the exchange to complement their own e-Business initiatives.

"To date, more than a dozen major automotive suppliers have signed letters indicating their intent to participate in Covisint," said Gregory Mekjian, a member of the Covisint planning team. "By signing letters-of-intent, these suppliers are indicating their acceptance of the concept and expressing their willingness to provide input to the planning process of this groundbreaking business-to-business initiative."

Suppliers who have signed letters-of-intent to participate include: A.K. Steel, ArvinMeritor, Autoliv, BASF, Dana Corporation, Delphi Automotive, Denso International America, Dura, Ernie Green Corporation, Federal Mogul, Flex-n-Gate, Freudenberg NOK, Johnson Controls, Inc., Lear Corporation, Magna International, Plastech, Tower Automotive and Yazaki International.

"We recognize the value of using e-business solutions to improve overall supply chain efficiency and speed for our new organization. Covisint can help align us more closely with our suppliers and allow us to provide added value to our customers," said Larry D. Yost, chairman and CEO of the newly-formed ArvinMeritor, Inc., which began trading on the New York Stock Exchange earlier this week.

"Covisint represents another important tool in Dana's ongoing effort to eliminate redundancy in the purchasing arena," said Jim Woodward, vice president and director of e-Business, Dana Corporation. "We anticipate that the exchange will offer tremendous opportunities to Dana in the areas of integration and collaboration -- two elements that will be critical to our future."

The roster of suppliers who have signed letters of intent represent some of the most well-known names in the automotive supply industry. Other automotive suppliers are in various stages of discussion with members of the Covisint planning team.

The founding partners, currently in the planning and development phase, are working closely with antitrust agencies in the U.S. and abroad during their review of the planned exchange. Following timely review by these agencies, the parties expect to receive approval to begin operations.