About the ExchangeChemConnect Records Seventh Consecutive Quarter of Growth:
Annualized E-Commerce Transaction Volume Hits $3.2 Billion Volume increases more than 30% over Q1 as buyers and sellers of chemicals and plastics from multiple industries gain new benefits from online trading efficiencies and opportunities
San Francisco, CA (July 18, 2001) – ChemConnect Inc., the company that provides the only end-to-end e-commerce solution for buyers and sellers of chemicals and plastics worldwide, today announced that in Q2 2001, it achieved its seventh consecutive quarter of growth. During the same period, annualized transaction volume on its multiple trading platforms reached $3.2 billion, an increase of more than 30 percent over Q1 results. Average transaction values reached $1.3 million.
By merging with Envera last month, ChemConnect expanded its capabilities to become the only end-to-end e-commerce solution for buyers and sellers of chemicals and plastics worldwide. In June, the Envera business unit, which provides connectivity and collaboration across the supply chain, handled more than 15,000 transactions.
"We've broken new ground," said John Robinson, ChemConnect CEO. "We are the industry's only total e-commerce solution. Buyers and sellers of chemicals and plastics from companies of any size, anywhere in the world, can now adopt B2B opportunities that fit their immediate needs, with the secure knowledge that as their e-commerce requirements multiply, ChemConnect is equipped to meet them."
Members continue to access ChemConnect's three trading platforms—the Exchange Floor, the Commodities Floor, and Corporate Trading Rooms—where companies from around the world can buy or sell more than 60,000 products. These online sales and procurement solutions, supported by the company's unmatched industry and e-commerce expertise, produce cost benefits, help establish new relationships, and consolidate efficiencies for long-term business associations.
ChemConnect's Envera business unit continues work to provide a single point of contact for order fulfillment, transaction monitoring, and shipment tracking. Envera offers global trading partners nine CIDX 2.0.1 compliant order-to-cash documents that they can transfer between company ERP systems.
Q2 Milestones and Factors Contributing to Growth
Corporate Trading Rooms: Buyers and sellers of chemicals and plastics participate in pre-arranged auctions, during which they can make decisions on price, delivery terms, levels of service, and product specifications. Using ChemConnect's proven methodologies, technology, and market and e-commerce expertise, Members achieve optimum results—with an average payback of more than 1000 percent.
Commodities Floor: Pre-qualified Members from the world's largest oil and petrochemical producers, consumers, traders, and distributors have traded more than $1 billion worth of standard, high-volume commodity chemicals so far this year on ChemConnect's Commodities Floor. In Q2, ChemConnect increased the number of its product pits to 16 by adding gasoline blendstocks and PVC. The company also introduced new swap opportunities for bulk commodities trading.
Exchange Floor: The electronic marketplace for lower-volume chemicals and plastics, the Exchange Floor often provides the first e-commerce experience for Members. Global buyers and sellers continue to access the floor to get market information to improve their decision-making, find new trading partners, and negotiate and close transactions quickly.
Envera: The ChemConnect/Envera merger, which took place in early June, created the industry's first and only fully-integrated, full-service e-commerce solution. Covering Members' needs from identifying business partners to fulfillment, ChemConnect significantly increases opportunities for buyers and sellers of chemicals and plastics across multiple industries.
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.