Belron announces a new Business-to-Business internet company

Belron International, holding company for the world's best known names in vehicle glass repair and replacement, including among others Autoglass; and Carglass; in the UK and across Europe, today announces that it has become the majority shareholder in a joint venture to be known as Glasplus Limited ("Glasplus").

The balance of the company is owned by The Innovation Group plc ("TiG"), the provider of evolving leading practice and e-procurement solutions to the global insurance industry. Glasplus is being set up as an on-line market place for the vehicle glass repair and replacement industry.

Glasplus brings together a team with extensive ARG, Supply Chain & IT experience. It will be headed by Jeff Boekstein, formerly Sales & Marketing Director for Autoglass. Jeff said "We chose TiG as our software provider because they offer a solution that is already focused on the insurance industry; their platform is also flexible and robust enough to allow us to build the additional functionality we require."

Gary Lubner, CEO of Belron, added, "Much of the hype that surrounded Internet ventures last year has now died down and in Glasplus we see a sustainable business model built upon reducing the time, the hassle and the administration involved with repairing or replacing a windscreen. Glasplus represents the Internet businesses of the future by combining in-depth industry knowledge with leading edge technology.

600450 Belron announces a new Business-to-Business internet company glassonweb.com
Date: 7 December 2001
Source: Belron

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