Rockwell International, the largest backer of SourceAlliance.com, an online marketplace for the industrial market, is continuing to evaluate its relationship with the venture, according to a Rockwell spokesperson and a Bloomberg news story released in December.
At an analysts' meeting in December, Rockwell Chief Executive Officer Don Davis reiterated his position that the company will not continue to support SourceAlliance if the industry does not want it, and that the company has never intended to be the sole financial backer for SourceAlliance.
"Rockwell is continuing to evaluate its options concerning SourceAlliance and the management of Source Alliance as an independent company is evaluating its options with Rockwell and also with its other investors," says Don McGrath, the spokesperson for Rockwell Corporate.
Bruce Bittner, SourceAlliance's director of marketing and strategic communications, says it has been challenging to raise money for SourceAlliance in the current business environment and in an effort to control costs and focus on its business, SourceAlliance has laid off 20% of its workforce.
While Rockwell has a 84% interest in SourceAlliance, 10 other electrical manufacturers have invested in the company.
