The Chemical Treatment

ChemConnect announces new e-commerce negotiation tools and services

Dusseldorf, Germany and San Francisco, CA  October 29, 2001  ChemConnect Inc., a provider of an e-commerce solution for buyers and sellers of chemicals and plastics worldwide, has unveiled new online negotiation tools and services for its Exchange Floor  the company's global online marketplace with over 7,000 companies as members.

The company reported that since the introduction of new features, including the ability to post requests for quotes, proposals and new suppliers, messaging capabilities, and expanded company identification options, participation and active negotiation rates have more than tripled. ChemConnect also revamped its Exchange Floor pricing model, introducing tiered levels of subscription pricing that allow companies unlimited access to the Exchange Floor for a specified period of time. Among major companies signing subscriptions for unlimited access are BASF AG and DSM.

Some of the other new features that Exchange Floor offers are:

§         Non-anonymous negotiation in which companies initiating activity (hosts) have the option to identify themselves online.

§         Online account management so users can manage their personal contact lists for RFQ distribution, review their historical ChemConnect activity, and store and attach documents.

§         Product branding, giving sellers the option to identify their product's brand name in their posting or bid to differentiate it from other companies' products.

"One of the new features that really helps us with our online negotiations is knowing which companies are bidding on our business," said Diana Moussa, coordinator for ChemConnect issues in the Raw Materials Purchasing Department of BASF AG. "By the same token, we want companies to know who we are when we post our buy and sell opportunities. ChemConnect understood our needs and made the changes. As a result, we've increased our use of the Exchange Floor over the past three months."

"We listened to our members and acted according to their wishes," said John Robinson, ChemConnect CEO. "For more than five years now, we've worked with the industry to make e-commerce efficiencies work as a win-win for both buyers and sellers of chemicals and plastics. Our latest innovations build on our experience, our knowledge, and our close association with the members we serve."