OverviewChemConnect And MegaVisa Form Strategic Alliance
Leading Internet marketplace and India's premier chemicals distributor to further extend global buying and selling opportunities
San Francisco, CA (May 15, 2001) – ChemConnect Inc.,the company that operates the World Chemical Exchange™, offering buyers and sellers of chemicals and plastics a dynamic online marketplace supported by strategic e-commerce services, today announced that it has formed a strategic alliance with MegaVisa Marketing & Solutions Ltd., a leading distributor of chemicals and also leaders in e-commerce solutions for Chemical Industry in India with respect to the marketing and supply chain. Under the agreement, the companies will work together to promote regional activity on the World Chemical Exchange and offer ChemConnect's online sales and procurement solutions, designed to meet the specific business needs of its global membership base.
The World Chemical Exchange hosted more than $ 2.4 billion in annualized transaction volume in Q1 2001 and is home to more than 60,000 chemical and plastics products with access to more than 30,000 suppliers. The World Chemical Exchange brings e-commerce solutions to MegaVisa's India-based clients that come from all chemical-consuming sectors, including wire and cable, foam, rubber, construction, fiberglass, inks and dyes, plastics, agrochemicals, adhesives, refineries, steel, pharmaceuticals, food processing, personal care, fertilizers, packaging, and paints industries. The company has also established an India-centric chemicals trading portal, MegaVisaChem.com.
"We are very pleased to be partnering with ChemConnect," said Ajay Mittal, MegaVisa CEO. "With MegaVisaChem.com's widespread appeal to India-based buyers and sellers, we're thrilled to announce an on-going relationship with the world-leading chemicals and plastics neutral marketplace."
"MegaVisa Marketing and Solutions, with its excellent reputation, regional market insight, wide client base, and professional expertise, is the right partner for us in India," said Brian Selby, V.P. Asia, ChemConnect. "Together we will be able to offer new efficiencies, and open complementary new markets to our Members and to the Indian chemicals industry."
About MegaVisaChem.com
Since 1987, MegaVisa Marketing and Solutions Ltd. has been supplying the Indian market with chemicals manufactured by multinationals including Dow Chemicals, USA (Union Carbide Corporation), Crompton Corporation, USA, UOP Inter-Americana Inc., USA, Milliken Chemicals, USA, Allied Signals Inc., USA, and many more leading Chemical manufacturers. The company is an end-to-end service provider, involved in sourcing, negotiating terms for supply, order processing, financial risk management, transportation, logistics etc. The company's wholly-owned Singapore subsidiary, MegaVisa Solutions (Singapore) Pte Ltd., manages the entire supply chain. MegaVisa also has a full-fledged China Representative Office for sourcing various chemicals.
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.