ATOFINA, BP, Dow, DSM, ICI, and Rohm and Haas Sign Subscription Agreements With ChemConnect.Business Editors HOUSTON--(BUSINESS WIRE)--April 30, 2002 Companies Integrate Online Negotiation Tools in to their Sales and Procurement Processes and Benefit from Timely, Reliable Market Information ChemConnect Inc., which operates the leading online marketplace for chemicals and plastics, today announced that six more leading chemical companies have signed subscription agreements to expand their use of ChemConnect Negotiation Tools and Services. ATOFINA, BP Chemicals (NYSE NYSE See: New York Stock Exchange :BP), The Dow Chemical Company The Dow Chemical Company (NYSE: DOW TYO: 4850 ) is an American multinational corporation headquartered in Midland, Michigan. Overview The Dow Chemical Company is currently the second largest chemical manufacturer in the World (after BASF)[1]. (NYSE:DOW), DSM 1. DSM - Data Structure Manager. An object-oriented language by J.E. Rumbaugh and M.E. Loomis of GE, similar to C++. It is used in implementation of CAD/CAE software. DSM is written in DSM and C and produces C as output. (EURONEXT:DSM), Imperial Chemicals Industries, PLC (NYSE:ICI (language) ICI - An extensible, interpretated language by Tim Long with syntax similar to C. ICI adds high-level garbage-collected associative data structures, exception handling, sets, regular expressions, and dynamic arrays. ), and Rohm and Haas Rohm and Haas Company (NYSE: ROH), a Philadelphia, Pennsylvania based company, manufactures miscellaneous materials. A Fortune 500 Company, Rohm and Haas employs more than 17,000 people in 27 countries. The annual sales revenue of Rohm and Haas stands at about USD 8.2 billion. Company (NYSE:ROH ROH Alcohol (chemistry) ROH Royal Opera House ROH Ring of Honor (wrestling organization) ROH Run of the House (hospitality industry) ROH Royal Ottawa Hospital ), join other major chemical and plastics companies, including BASF BASF Bar Association of San Francisco (since 1872; San Francisco, California) BASF Badische Anilin und Soda Fabrik (German chemical products company) BASF Builders Association of South Florida , DuPont, and GE Plastics, in using ChemConnect's Trading Center and Self Service Auctions to realize value by streamlining business processes and accessing timely and reliable market information. "Since we announced new subscription-based pricing last fall, we have seen a significant shift towards company-wide adoption of our tools and services," said John Robinson Several notable individuals have been named John Robinson: Politicians
"ChemConnect's online tools, services, and information resources (1) The data and information assets of an organization, department or unit. See data administration. (2) Another name for the Information Systems (IS) or Information Technology (IT) department. See IT. mirror our business processes and create new efficiencies, which favorably impact our bottom line," said Vince Hutchinson, BP Global Sourcing Manager. "With the unlimited subscription, we have been able to make those resources available across our enterprise, so individual managers are empowered to act, and act quickly, in ways that further streamline business processes, put us in touch with new sources, and let us seize opportunities to make timely deals with them and with our long-term partners." Designed to speed and optimize online negotiations, ChemConnect's Trading Center automates industry business processes, including online requests for quotes, proposals, and information. The Trading Center allows Members to identify new suppliers and easily communicate and negotiate the best market prices with both existing and new suppliers. Opportunities to source from new markets and quickly reach agreement on competitive prices, combined with access to reliable market information, provide efficiencies that positively affect business performance. With the recently introduced Self Service Auctions, Members manage their own online auctions using ChemConnect's now-familiar and proven technology platform to conclude contracts and large spot transactions for both direct and indirect materials. Market Information resources are based on ChemConnect's unique knowledge of what's happening in the market, and its position as the leading online marketplace through which billions of dollars of chemicals and plastics purchases and sales pass on an annual basis. ChemConnect's tools and services add up to allow Members to save time, lower overall transaction costs Transaction Costs Costs incurred when buying or selling securities. These include brokers' commissions and spreads (the difference between the price the dealer paid for a security and the price they can sell it). , and provide the ability to get to market prices faster. With unlimited subscriptions, Members can designate any number of touch points within their companies to capitalize on Cap´i`tal`ize on` v. t. 1. To turn (an opportunity) to one's advantage; to take advantage of (a situation); to profit from; as, to capitalize on an opponent's mistakes s>. opportunities offered on both the Trading Center and in Self Service Auctions. There are also limited subscription and other packages available so companies of any size can choose the right e-commerce combinations to suit their product and geographical needs. About ChemConnect ChemConnect has established itself as the world's leading online marketplace for buyers and sellers of chemicals and plastics. The company is committed to significantly improving transaction processes for buyers and sellers in multiple industries around the globe. Using innovative ChemConnect solutions, more than 8,000 Member companies from 135 countries can access reliable market information, lower transaction costs, and reduce process inefficiencies, enabling them to better compete in the worldwide market. Visit www.chemconnect.com http://www.chemconnect.com for more information. |
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