Ispat International NV, which is the flagship of Mittal's London-headquartered LNM group of companies, announced here that it is creating a new company with Commerce One, a provider of global business-to-business e-commerce solutions, with headquarters in Walnut Creek, California.

The offspring from this corporate marriage has been conceived to create and operate the first e-commerce trading community for the entire metals industry. The partners expect to finalise definitive agreements by March 31, Ispat sources told India Abroad News Service.