OverviewClariant, Crompton and Lonza Sign Subscription Agreements with ChemConnect
Companies Use Online Negotiation Tools to Supplement their Sales and Procurement Processes and Benefit from Timely, Reliable Market Information
Houston, TX (July 31, 2002) - ChemConnect, Inc., which operates the leading electronic marketplace for chemicals and plastics, today announced that three more chemical companies have signed subscription agreements, thereby expanding their use of ChemConnect Negotiation Tools and Services to conduct their direct and indirect materials negotiations. Clariant (SWX: CLN), Crompton Corporation (NYSE: CK), and Lonza Group (SPI: LONN) join other major chemical and plastics companies now using ChemConnect's Trading Center and Self Service Auctions to realize value by streamlining business processes and accessing timely and reliable market information.
"More and more leading companies are turning to ChemConnect's negotiation tools to improve the sales process and the procurement of raw materials, equipment, and other goods and services," said John Robinson, ChemConnect President and CEO. "ChemConnect provides a dynamic forum for buyers and suppliers that drives them to market prices faster."
"Many raw materials suppliers have announced third quarter price increases," said Dick Palin, Lonza VP Operations, Performance Chemicals. "We will use ChemConnect's Trading Center and Auction tools and services to ensure that we are paying the best possible price, negotiated in a neutral marketplace. ChemConnect's solutions help us to achieve maximum value, quickly and efficiently."
ChemConnect also provides real-time market information resources, which enable Members to improve their sales and purchasing decisions. ChemConnect is uniquely positioned to help companies understand the market as billions of dollars of chemicals and plastics purchases and sales pass through ChemConnect's marketplace on an annual basis.
ChemConnect recently enhanced its Online Auctions and Trading Center to enable Members to negotiate complex direct and indirect material transactions more efficiently than ever before. In addition to improved usability, subscribers will have the ability to conduct more sophisticated negotiations on their own, using ChemConnect's tools and services. ChemConnect's auction platform also includes a handicapping feature allowing auction hosts to rank bidders based on factors other than price.
Members use ChemConnect's proven technology platforms to find new business partners and conclude contracts and spot transactions for raw materials, equipment, and other goods and services. By using Online Auctions and the Trading Center, Members speed and optimize online negotiations and automate their business processes, including online requests for quotes, proposals, and information.
ChemConnect's tools and services add up to allow Members to save time, lower overall transaction costs, find new business partners, and get to market prices faster. By signing a subscription agreement, Members can deploy ChemConnect solutions enterprise-wide, enabling all departments and employees to streamline transactions, from market assessment to negotiation through fulfillment.
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.