CheMatch.com Announces Strategic Alliance with Muehlstein.Business Editors & Internet Writers HOUSTON--(BUSINESS WIRE)--Feb. 24, 2000 CheMatch.com, a leading global exchange for bulk commodity chemicals, plastics and fuel products, announced that it has signed a strategic alliance with H. Muehlstein & Co. Inc., the largest international distributor of plastic and rubber polymers. Under this agreement, Muehlstein will actively support the purchase of plastics available on the CheMatch.com platform. In addition, Muehlstein has made an equity investment in CheMatch.com. CheMatch.com, which has been trading bulk commodity chemicals for over two years, began trading plastics last week. Using CheMatch.com, buyers and sellers can trade fifteen commodity grades of polypropylene, polystyrene, polyethylene and PVC PVC: see polyvinyl chloride. PVC in full polyvinyl chloride Synthetic resin, an organic polymer made by treating vinyl chloride monomers with a peroxide. . "We are extremely pleased that Muehlstein has agreed to support the CheMatch.com e-commerce exchange for bulk commodity chemicals and plastics," said Carl McCutcheon, chairman, president and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of CheMatch.com. "Forging alliances with leading industry and strategic partners is key to the development of our exchange and our product offering. We look forward to working with Muehlstein as we explore new opportunities to deliver value using e-commerce." Kevin Donohue, president and CEO of Muehlstein, said, "The investment offers Muehlstein a value proposition that is both a strategic investment opportunity and access to new sources of supply." The CheMatch.com marketplace is centered around a real-time, interactive trading exchange, where members bid, offer and negotiate on the Internet for the purchase and sale of products 24 hours a day, seven days a week. Members of the secure, neutral exchange trade products anonymously, utilizing real-time pricing and other market information provided through the exchange. The CheMatch.com exchange includes more than 125 members from around the world. About CheMatch.com CheMatch.com ( http//www.chematch.com ) is a global Internet exchange See IXP and NAP. and information resource for buying and selling bulk commodity chemicals, plastics and fuel products. CheMatch.com creates a seamless, global marketplace where users can trade 24 hours a day, seven days a week. Strategic and financial investors include Battery Ventures, Bayer AG Bayer AG German chemical and pharmaceutical company. Founded in 1863 by Friedrich Bayer (1825–1880), it now operates plants in more than 30 countries. Bayer has originated scores of pharmaceuticals, chemicals, and synthetic materials; it was the first developer and (NYSE NYSE See: New York Stock Exchange :BAYZY), (FSE FSE 1. feline spongiform encephalopathy. 2. focal symmetrical encephalomalacia. :BAYG.F), Computer Sciences Corporation (NYSE:CSC), DuPont (NYSE:DD), Millennium Chemicals (NYSE:MCH See Intel Hub Architecture. ), H. Muehlstein & Co., Inc., Reed Elsevier, Sprout Group, Stolt-Nielsen S.A. (Nasdaq:STLTF), (Nasdaq:STLBY), (Oslo Stock Exchange Oslo Stock Exchange An exchange founded in 1819 and trading stocks, bonds, and stock options that is considered the options market of Norway. :SNIB snib tr.v. snibbed, snib·bing, snibs Chiefly British To latch (a door or window): "[The] window is snibbed on the inner side" ) and TownsendTarnell Inc. Headquartered in Houston, CheMatch.com has international offices in the United Kingdom, Singapore and Tokyo. About H. Muehlstein & Co. Inc. Founded in 1911, the privately held Muehlstein supplies polyolefins, styrenics, ETPs and synthetic rubber to manufacturers in a multitude of markets. Muehlstein professionals serve over 6,000 customers in 72 countries through offices in 44 strategic locations. In 1999, they posted another record volume year with 2.45 billion pounds of product shipped. Muehlstein operates as Pegasus Polymers in Europe, the Middle East, Africa, and Asia Pacific. In North America, prime branded distribution is handled by their Channel Polymers unit. The Muehlstein Compounded Products group provides proprietary compounded and custom compounded products from their newly expanded facility in Houston. |
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