Equity Plan Resin-ates

Omnexus adds plastics equipment manufacturer

Atlanta  April 5, 2001  Omnexus, the e-marketplace sponsored by the plastics industry, has announced the addition of its 14th equity stakeholder, Engel, an Austrian-owned manufacturer of injection molding machinery with facilities in Canada and the United States.

Engel joins previously announced suppliers that have taken a stake in Omnexus, including ATOFINA, BASF, Bayer, Biesterfeld, Clariant, Dow Chemical, DSM, DuPont, Ellis & Everard, PolyOne, Resinex & Ravago, Solvay and Ticona.

The e-marketplace has said that it intends to expand its business model beyond resins, and Engel is the first equipment supplier announced by Omnexus. The marketplace's members will now have the ability to select, compare and purchase a range of injection molding machines, as well as purchase resins and search for content.

"Engel's decision to make a financial investment in Omnexus demonstrates both its commitment and understanding of the approach that we are taking in regards to machinery," said Jonathan Greenspahn, vice president of equipment, tooling and MRO at Omnexus. "We are both excited and pleased that Engel has seen the value that Omnexus can bring to machinery suppliers and plastics processors."

Omnexus has said that it plans eventually to announce new technological capabilities that will provide functionality to address the equipment, tooling and MRO needs of plastics processors.

"Developing processes to simplify business, ordering and communication systems is consistent with our customer strategy," stated Dr. Peter Neumann, president of Engel. "Omnexus and their focus on meeting the total needs of the plastics processor will make it possible for customers to utilize their technical requirements to create the best plastic machine solution from Engel."

Omnexus has global headquarters in Switzerland and runs its U.S. operations from Atlanta, Ga.