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Enron moves into paper trading

Published on .

Houston--Best known for its core energy and fledgling bandwidth trading businesses, Enron Corp.'s Industrial Markets unit Tuesday announced the launch of Clickpaper.com, an exchange serving the pulp, paper and wood products industry. The launch is timed with the closing of Enron's previously announced purchase of Garden State Paper Co. Inc., a Garfield, N.J., recycled newsprint mill. The paper exchange will leverage Enron's experience in trading energy and bandwidth online, the company said. In related news, Internet Capital Group Tuesday said it has increased its ownership stake in PaperExchange.com, a competing paper exchange based in Boston. ICG, in Wayne, Pa., will now own 83% of PaperExchange, up from 20%.
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