OverviewH. B. Fuller Company Turns to ChemConnect to Expand E-Business Leadership
ChemConnect Marketplace to help company find new global sources, further streamline business processes
Houston, TX (November 25, 2002) - ChemConnect Inc., a leader in helping customers optimize their purchasing and sales processes for chemical feedstocks, chemicals, plastics, and related products, today announced that H. B. Fuller Company, a worldwide manufacturer and marketer of specialty chemicals, will expand its online strategic sourcing and sales initiatives via ChemConnect's Marketplace to streamline their business processes, lower costs, extend their reach to new markets, and access timely and reliable market information.
Founded in 1887, H.B. Fuller manufactures and markets specialty chemicals used in thousands of formulations, and hundreds of thousands of applications worldwide. The company has direct operations in 43 countries in North America, Latin America, Europe and Asia Pacific. Distributors and licensees increase H.B. Fuller's presence to more than 100 countries. H. B. Fuller's largest worldwide business category is adhesives, sealants, and coatings. These products, in thousands of formulations, are sold to customers in a wide range of industries including automotive, converting, engineered systems, footwear, graphic arts, non-woven/hygienic, packaging, polymer, tobacco, window and woodworking.
Designed to speed and optimize online negotiations, ChemConnect's Marketplace automates key business processes, including online requests for quotes, proposals, and information. ChemConnect allows its Members to identify new suppliers and easily communicate and - with the company's proven online auction tools - negotiate the best market prices with buyers and suppliers of direct and indirect materials. Opportunities to source from and sell to new markets and quickly reach agreement on competitive prices, combined with access to reliable market information, provide efficiencies that positively affect business performance.
"We have made it our mission to be an industry leader in e-business. About half of our North American sales have been converted to our e-stores and more than seventy percent of our purchasing activities happen on line," said Ed Snyder, H.B. Fuller Company Vice President, Global Sourcing. "Because of ChemConnect's position as the leading online marketplace through which billions of dollars of chemicals and plastics purchases and sales flow on an annual basis, we see it as a natural extension to our strategy both by helping us identify new sources of supply and new customers around the world and by making existing processes even more efficient." "H. B. Fuller has distinguished itself as a leader in e-business strategy," said John Robinson, ChemConnect CEO. "By adding ChemConnect services to its e-procurement processes, the company is a shining example of the view, which we share, that successful companies will use a diverse mix of channels to achieve efficiencies and gain competitive advantage."
About H.B. Fuller Company
H.B. Fuller Company is a worldwide manufacturer and marketer of adhesives, sealants, coatings, paints and other specialty chemical products, with fiscal 2001 sales of $1.274 billion. Common stock is traded on the NASDAQ exchange under the symbol FULL. For more information about the Company, visit their website at: www.hbfuller.com.
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.
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.