APP, US Internet tie up

APP, US Internet tie up

SINGAPORE (Dow Jones): New York-listed Asia Pulp & Paper Co. (PAP) said late Monday it has entered into three Internet-related ventures with U.S. companies to improve its global supply chain.

The company said it will go into electronic commerce through a joint venture with U.S.-based Commerce One Inc. (CMRC) called Asia Trade Alliance. The new unit will provide business-to- business e-commerce services in Asia Pacific.

Under a separate alliance with PaperExchange.com Inc., Asia Pulp & Paper will be listed on the Internet company's e-commerce Web site.

Asia Pulp & Paper will also invest in U.S. e-commerce software company, PacificNet.com Ltd., through its China unit, APP China Group Ltd. The unit will acquire a 10 percent stake in PacificNet.com for US$5 million.

Asia Pulp & Paper, headquartered in Singapore, is one of the world's largest paper producer, with facilities in Indonesia, China and India. Its shares are also listed in Singapore.