HONG KONG (May 10, 5 p.m. EDT) — A group of nine Hong Kong-based toy manufacturers is forming an online marketplace aimed at buying plastic materials.
The Web portal, set to launch in the third quarter of this year, will offer a variety of electronic-commerce services covering all aspects of procurement, according to E-Commerce Resources Ltd., the company forming the unnamed portal.
E-Commerce Resources is a unit of Hong-Kong-based Internet provider Hutchison Whampoa Ltd. The company has lined up toy manufacturers that used $10 billion of plastic resin last year.
Founding members of the portal include Hong Kong-based Lung Cheong International Holdings, RBI Holdings Ltd. and Wah Shing International Holdings, according to published reports.
