CSXT JOINS RAILMARKETPLACE.COM
CSX Transportation Inc. has joined five North American Class I railroads as a founding member and strategic partner in RailMarketplace.com, an electronic exchange to link buyers and sellers across the rail industry.
Besides CSXT, other founding members are Burlington Northern Santa Fe, Canadian National, Canadian Pacific Railway, Norfolk Southern and Union Pacific, along with iRail.com Inc. and GET Global eXchange Services.
The founding members purchase more than $15 billion in supplies each year. Chicago-based RailMarketplace.com said the neutral exchange will provide railroads, suppliers and other buyers the opportunity to reduce their costs through improved spending controls and global sourcing. Suppliers benefit from a larger customer base as well as reducing costs of sales, order management and inventories.