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Digital Marketplace Onezone Closes

Friday, 5th October 2001


Biolab Scientific, the leading supplier of laboratory and scientific products, has announced the closure of its online marketplace, Onezone.

Bruce McKinnon, Group Chief Executive, Biolab Scientific Limited, says that although Onezone has been successful in acquiring customers and suppliers, the lack of third party investment, combined with a slower than expected user adoption rate, has resulted in Biolab making the tough decision to close the marketplace.

Mr McKinnon says “Onezone has done well but unfortunately not within the timeframe we need to make it viable. Given the present economic uncertainty, we have made the decision to pull out now rather than taking the risk of waiting for the situation to improve.”

Biolab Direct, the online activity of Biolab Scientific and the incubator for Onezone, will continue to provide customers with access to their full range of laboratory and scientific supplies through the Internet, but without access to the many other suppliers that were part of the Onezone marketplace.

Mr McKinnon applauded the Onezone team for their commitment and dedication during the past year. “The hardest part of this situation has been telling a team of extremely committed and talented people of our decision to close Onezone. The team, along with our technology partners Ariba, Arthur Andersen and Telecom Advanced Solutions/e-Solutions, have created one of the best of breed marketplaces around and feedback from customers shows that it really does deliver the benefits we promised. But from a business perspective, the timing is simply not right for us to stay in the space at present.

The closure of Onezone will result in 12 job losses. Customers and suppliers are being informed of the decision and arrangements are being made to ensure there are no disruptions to their own businesses.

Ends


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