mjunction Services Ltd’s e-procurement arm, buyjunction, is poised to enter the European market through Tata Steel Europe. Mr Viresh Oberoi, CEO and MD of the joint venture of SAIL and Tata Steel, said earlier this week that Tata Steel Europe as a precursor to a procurement partnership recently issued a “letter of intent” to buyjunction.
Tata Steel Europe is expected to let buyjunction handle its low-value procurement. buyjunction has also obtained outsourcing mandates from Tata Steel Thailand and Nat Steel Singapore Holdings.
“These follows buyjunction’s strategic alliance with French procurement consultant EPSA Groupe in October last year”, he said.
EPSA is also collaborating with buyjunction in the areas of business travel and meetings and conventions.
The alliance will give both companies an opportunity to jointly service customers in the domestic market as well as overseas markets. In the domestic market buyjunction has served clients other than its promoter entities.
They include PowerGrid Corporation, Ordnance Factory Board, BHEL, Hindalco, Hindustan Copper, Berger, Jindal Steel & Power, ONGC, Tata Power, Tata Motors and NHPC. In the current financial year, buyjunction targets a transactions worth Rs 27,000 crore.
In 2011-12, it clocked a transaction value of Rs 14,837 crore, representing 44 per cent of mjunction’s total transactions of Rs 33,145 crore.