EC Clears Way for Business Web Site

United Technologies Corp. and Honeywell International Inc. won European Commission clearance to create a Web site for aerospace customers, giving the first seal of approval to the budding business-to-business Internet exchanges. Airlines and aircraft manufacturers will use MyAircraft.com to buy, sell and trade, potentially generating up to $500 million in sales for the parts and service providers. The commission said other aerospace companies viewed the new site as a “tool to make operations within the sector quicker, more efficient and less costly” and considered the Internet as an additional way to do business, rather than a separate market. The commission has said it is open-minded about business-to-business sites, touting their potential for cutting costs for companies and consumers. But authorities are still on guard for new ways of rigging prices or restricting competition that could be made easier on the Internet. MyAircraft.com is the first of several aerospace companies that want to do business on the Internet. Boeing Co., Raytheon Co. and Lockheed Martin Corp. plan to set up their own exchange. United Technologies shares rose $2 to close at $61, while Honeywell rose $2.06 to close at $35.63, both on the New York Stock Exchange.