BASF Joins Global Chemical Companies and SAP To Form Independent mySAP.com Marketplace.Business Editors/High-Tech Writers LUDWIGSHAFEN, Germany--(BUSINESS WIRE)--March 22, 2000 New company to focus on creating leading electronic marketplace for chemical and pharmaceutical industries 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 Aktiengesellschaft announced today that it was joining a group of leading global chemical companies and SAP AG (company) SAP AG - (Systeme, Anwendungen, Produkte in der Datenverarbeitung - German for "Systems, Applications and Products in Data Processing") A company from Germany that sells the leading suite of client-server business software. The US branch is called SAP America. to form an independent joint venture with the goal of creating the leading electronic marketplace for the chemical and pharmaceutical industries using mySAP.com e-business and marketplace technology. In addition to BASF and SAP, the founding partners of the new joint venture - which is still open to new members globally - include Degussa-Huls AG, Henkel KGaA and Metallgesellschaft AG. These companies will determine the legal and equity structure of the joint venture by the end of April. SAP will participate through its recently announced subsidiary SAPMarkets, the dedicated mySAP.com marketplace company that combines all mySAP.com business to business and marketplace activities in a focused business entity. "E-commerce is rapidly becoming a way of life for BASF as well as for other leading companies in the chemical industry. This collaborative effort will offer the partners significant purchasing savings by creating an innovative virtual marketplace with efficient processes and systems," said Bernd Flickinger, president of BASF's Logistics and Information Services See Information Systems. division. "At the same time, our new marketplace offers suppliers the chance to reach a wider base of potential customers very efficiently." The new joint venture will take over the responsibility for the continued development and ongoing expansion of the mySAP.com chemical and pharmaceutical marketplace announced in December 1999 and scheduled to go live in the second quarter of 2000. The joint venture will also be responsible for significantly extending the scope of the marketplace from its initial focus of indirect procurement The fancy word for "purchasing." The procurement department within an organization manages all the major purchases. to over time encompassing technical services, direct procurement and additional value-added services A value-added service (VAS) is a telecommunications industry term for non-core services or, in short, all services beyond standard voice calls and fax transmissions. such as transportation and financial services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. . This marketplace is open to buyers and sellers of all industries and regions, without regard to their e-commerce solutions or backbone logistics and finance execution systems. The new marketplace operated by the joint venture will provide significant benefits to its members including increased market transparency and aggregated buying power Buying Power The money an investor has available to buy securities. In a margin account, the buying power is the total cash held in the brokerage account plus maximum margin available. Also referred to as "Excess Equity. , reduced costs for product evaluation, increased efficiency and faster innovation. Among the leaders in their industry segments, these companies have vast buying and selling requirements BASF is a return-focused global company generating long-term growth and profitability from its activities in chemicals, health and nutrition, and oil and gas. The company's product range includes high-value chemicals, plastics, dyestuffs dyestuffs npl → colorants mpl dyestuffs dye npl → Farbstoffe pl dyestuffs npl → coloranti , dispersions, automobile and industrial coatings An industrial coating is a paint or coating defined by its protective, rather than its aesthetic properties, although it can provide both. The most common use of industrial coatings is for corrosion control of steel or concrete. , crop protection products, pharmaceuticals, fine chemicals, crude oil and natural gas. BASF's approach to integration, known in German as "Verbund," is one of the company's particular strengths and provides a unique competitive advantage. With sales in 1999 of 128 29.5 billion (about $29.5 billion) and a workforce of 105,000 employees, BASF is one of the world's top chemical companies. BASF's Internet address There are two kinds of addresses that are widely used on the Internet. One is a person's e-mail address, and the other is the address of a Web site, which is known as a URL. Following is an explanation of Internet e-mail addresses only. For more on URLs, see URL and Internet domain name. is www.basf.com. About SAPMarkets SAPMarkets will be responsible for all existing and new vertical and horizontal mySAP.com marketplaces. Designed using open, industry standards the mySAP.com Marketplaces combine content, community, collaboration, and commerce. The solutions offered by SAPMarkets combine the best of mySAP.com and third-party technology, applications and services. The partnership of SAPMarkets with i2i brings the dynamic trading platform www.i2i.com to the new marketplace, including features like auctions, reverse auctions and dynamic exchanges. Functionality that will be available in April with the new marketplace includes one-step buying and selling for easy product search and development, configuration of materials in the seller catalog catalog, descriptive list, on cards or in a book, of the contents of a library. Assurbanipal's library at Nineveh was cataloged on shelves of slate. The first known subject catalog was compiled by Callimachus at the Alexandrian Library in the 3d cent. B.C. , hosted catalog with advanced search capabilities, integration into back-end R/3 systems as well as chemical and pharmaceutical news content. |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion