INDUSTRY NEWS

SUPPLY CHAIN UPDATE

Robot maker backs e-biz

A San Jose­based manufacturer of industrial robots has invested seed money in a new business-to-business Web site for automation tool suppliers and system integrators. Adept Technology says the new Fastfactory on-line exchange will expedite factory automation projects by reducing lead times. Other automation companies and investors will participate in the neutral e-commerce site. Adept sells automation components to OEMs such as Applied Materials and KLA-Tencor.

The company would not disclose the amount of its initial investment, but Michael Overby, CFO, says its stake is less than 20% of Fastfactory's total start-up costs. "We don't have a controlling interest," he points out. The launch is set for the end of 2000. Charlie Duncheon, Adept's senior vp of marketing and sales, will become president and CEO of Fast Factory.

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