OverviewChemConnect Names Eric T. Paulsen Vice President, Trading Services
Paulsen's responsibilities include overseeing further development of risk management tools to enhance ChemConnect's growing forward market activity
San Francisco, CA (September 26, 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 Eric T. Paulsen has joined the company as vice president, trading services. Mr. Paulsen is a 25-year industry veteran with executive and entrepreneurial experience in chemicals, plastics, energy, and financial markets.
Calling upon his extensive experience in financial markets and in-depth knowledge of the way in which chemicals and plastics markets operate, Mr. Paulsen will work closely with industry leaders to develop the tools and services that will spur the growth of forward markets for improved risk management opportunities. Forwards are legally binding obligations to buy or sell a particular product at a specific price and location at a specific date in the future and will be used by companies to help predict earnings and manage price risk for a wide variety of commodity chemicals and plastics.
"Eric's expertise in a wide range of chemical and energy trading and risk management activities will help ensure that the products and services on our commodities trading exchange continue to support our Members as they meet their business challenges," said John Robinson, ChemConnect CEO. "Buyers and sellers of chemicals and plastics are recognizing the value that risk management brings to their companies. ChemConnect is already helping them utilize risk management tools to conduct successful paper trades, and we plan to significantly increase market opportunities and expand our capabilities in this area."
"One reason I'm so enthused about joining ChemConnect is that it has a proven history of working with its Members to tailor its offers to meet real-world needs," Paulsen said. "We're committed to supporting them in the creation of real economic benefit by helping them develop the liquidity in forward markets that is the foundation for establishing risk management tools. As I see it, the logical path is to focus on product liquidity and price transparency to develop indices and appropriate risk management tools so Members have a firm basis for participating in those forward markets."
As a director at Enron Capital and Trade Resources, a division of Enron Corporation, Mr. Paulsen helped spearhead the development of a financial price risk management business for petrochemicals and plastics. Following Enron, Mr. Paulsen was a founding principal of the investment, consulting, and capital advisory firm, Plassein Partners LLC, where he managed mergers, acquisitions, and consolidation transactions for a wide range of industries, including plastics processing. He was instrumental in the formation of Plassein International Corporation, a privately held specialty packaging company.
At ChemConnect, he will use his expertise to further develop liquidity and market breadth for both physical and financial transactions on the Commodities Floor, where 3.5 million metric tons of product have been traded so far this year—including financial forward transactions in oxygenates and aromatics.
Mr. Paulsen's career at Enron also included management roles in domestic and international trading and marketing, commercial operations, business development and strategic planning. He helped develop and execute structured financial transactions, from acquisitions and divestitures to public offerings, joint ventures, and limited partnerships with Enron and other companies.
Prior to joining Enron, Mr. Paulsen was vice president of marketing at CSX NGL Corporation/Texas Gas Exploration, where he was responsible for worldwide supply, trading, and marketing of natural gas liquids, crude oil, and refined products.
Mr. Paulsen holds a BBA in finance from Texas Tech University.
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.