ChemConnects with Continued Growth

Reports seventh straight quarter of increased transaction volume

San Francisco  July 18, 2001  Chemical and plastics e-marketplace ChemConnect reported today that the three-month period ending June 30 marked its seventh consecutive quarter of growth.

The company said it achieved an annualized transaction volume on its multiple trading platforms of $3.2 billion, more than a 30 percent increase over first quarter results. Average transaction values reached $1.3 million during the second quarter, the company reported.

Privately held ChemConnect did not report revenues or profits for the quarter.

ChemConnect merged last month with Envera, an online data exchange hub for chemical companies. The Envera business unit provides a single point of contact for order fulfillment, transaction monitoring, and shipment tracking. Envera offers global trading partners nine CIDX 2.0.1 compliant order-to-cash documents that they can transfer between company enterprise resource planning systems. In June, the Envera business unit handled more than 15,000 transactions.

ChemConnect continues to operate its three trading platforms  the Exchange Floor, the Commodities Floor and Corporate Trading Rooms  where companies can buy or sell some 60,000 products.

In Q2, ChemConnect increased the number of product pits on its commodities floor to 16 by adding gasoline blendstocks and PVC. The company also introduced new swap opportunities for bulk commodities trading. ChemConnect says oil and petrochemical producers, consumers, traders and distributors have traded more than $1 billion worth of standard, high-volume commodity chemicals so far this year on the commodities floor.