OverviewATOFINA, BP, Dow, DSM, ICI, and Rohm and Haas Sign Subscription Agreements with ChemConnect
Companies Integrate Online Negotiation Tools in to their Sales and Procurement Processes and Benefit from Timely, Reliable Market Information
Houston, TX (April 30, 2002) - ChemConnect Inc., which operates the leading 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 (NYSE: BP), The Dow Chemical Company (NYSE: DOW), DSM (EURONEXT: DSM), Imperial Chemicals Industries, PLC (NYSE: ICI), and Rohm and Haas Company (NYSE: ROH), join other major chemical and plastics companies, including BASF, DuPont, and GE Plastics, in using ChemConnect's Trading Center and Self Service Auctions to realize value by streamlining business processes and accessing timely and reliable market information.
"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. Opportunities to source from new markets and quickly reach agreement on competitive prices, combined with access to reliable market information, provide efficiencies that positively affect business performance.
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.
Market Information resources are based on ChemConnect's unique knowledge of what's happening in the market, and its position as the leading online marketplace through which billions of dollars of chemicals and plastics purchases and sales pass on an annual basis.
ChemConnect's tools and services add up to allow Members to save time, lower overall transaction costs, and provide the ability to get to market prices faster. With unlimited subscriptions, Members can designate any number of touch points within their companies to capitalize on opportunities offered on both the Trading Center and in Self Service Auctions. There are also limited subscription and other packages available so companies of any size can choose the right e-commerce combinations to suit their product and geographical needs.
About ChemConnect
ChemConnect is a leader in helping customers optimize their purchasing and sales processes for chemicals, plastics, and related products through a unique combination of market information, industry expertise, e-commerce solutions, and an active network of trading partners. More than 7,500 Member companies in multiple industries around the world can use ChemConnect's highly efficient tools and services to streamline transactions and lower costs. Visit www.chemconnect.com for more information.
For more information, please contact:
Bob Osmond
UpStart Communications
(510) 457-3111
bosmond@upstart.com
Liz Youngs
UpStart Communications
(843) 881-5751
lyoungs@upstart.com
Note to Editors: ChemConnect is a registered trademark of ChemConnect, Inc. All other product, trademark, company or service names mentioned herein are the property of their respective owners.