Houston, TX May 2, 2002 ChemConnect Inc., which operates an online marketplace for chemicals and plastics, today announced that six more leading chemical companies have signed subscription agreements to expand their use of ChemConnect Negotiation Tools and Services. ATOFINA, BP Chemicals, The Dow Chemical Company, DSM, Imperial Chemicals Industries, PLC, and Rohm and Haas Company, join other major chemical and plastics companies, including BASF, DuPont, and GE Plastics, in using ChemConnect's Trading Center and Self Service Auctions.
"Since we announced new subscription-based pricing last fall, we have seen a significant shift towards company-wide adoption of our tools and services," said John Robinson, ChemConnect President and CEO. "Members with unlimited subscriptions for the Trading Center and Self Service Auctions buy and sell chemicals and plastics both on the spot market and to establish long term contracts. And, with continual access to reliable, up-to-date market information, they also increase their competitive edge. Quite simply, they get smarter faster and are able to act on that knowledge to make better business decisions on a daily basis."
"ChemConnect's online tools, services and information resources mirror our business processes and create new efficiencies, which favorably impact our bottom line," said Vince Hutchinson, BP Global Sourcing Manager. "With the unlimited subscription, we have been able to make those resources available across our enterprise, so individual managers are empowered to act, and act quickly, in ways that further streamline business processes, put us in touch with new sources, and let us seize opportunities to make timely deals with them and with our long-term partners."
Designed to speed and optimize online negotiations, ChemConnect's Trading Center automates industry business processes, including online requests for quotes, proposals, and information. The Trading Center allows Members to identify new suppliers and easily communicate and negotiate the best market prices with both existing and new suppliers. With the recently introduced Self Service Auctions, Members manage their own online auctions using ChemConnect's now-familiar and proven technology platform to conclude contracts and large spot transactions for both direct and indirect materials.