ChemConnect and MegaVisa Form Strategic Alliance; Leading Internet Marketplace and India's Premier Chemicals Distributor to Further Extend Global Buying and Selling Opportunities.Business Editors/High-Tech & Chemical Writers SAN FRANCISCO--(BUSINESS WIRE)--May 15, 2001 ChemConnect Inc., the company that operates the World Chemical Exchange(TM), offering buyers and sellers of chemicals and plastics a dynamic online marketplace supported by strategic e-commerce services, today announced that it has formed a strategic alliance with MegaVisa Marketing & Solutions Ltd., a leading distributor of chemicals and also leaders in e-commerce solutions for the Chemical Industry in India with respect to marketing and supply chain. Under the agreement, the companies will work together to promote regional activity on the World Chemical Exchange and offer ChemConnect's online sales and procurement solutions, designed to meet the specific business needs of its global membership base. The World Chemical Exchange hosted more than $2.4 billion in annualized annualized Of or relating to a variable that has been mathematically converted to a yearly rate. Inflation and interest rates are generally annualized since it is on this basis that these two variables are ordinarily stated and compared. transaction volume in Q1 2001 and is home to more than 60,000 chemical and plastics products with access to more than 30,000 suppliers. The World Chemical Exchange brings e-commerce solutions to MegaVisa's India-based clients that come from all chemical-consuming sectors, including wire and cable, foam, rubber, construction, fiberglass, inks and dyes, plastics, agrochemicals, adhesives, refineries, steel, pharmaceuticals, food processing Food processing is the set of methods and techniques used to transform raw ingredients into food for consumption by humans or animals. The food processing industry utilises these processes. , personal care, fertilizers, packaging, and paints industries. The company has also established an India-centric chemicals trading portal, MegaVisaChem.com. "We are very pleased to be partnering with ChemConnect," said Ajay Mittal, MegaVisa 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. . "With MegaVisaChem.com's widespread appeal to India-based buyers and sellers, we're thrilled to announce an on-going relationship with the world-leading chemicals and plastics neutral marketplace." "MegaVisa Marketing and Solutions, with its excellent reputation, regional market insight, wide client base, and professional expertise, is the right partner for us in India," said Brian Selby, V.P. Asia, ChemConnect. "Together we will be able to offer new efficiencies, and open complementary new markets to our Members and to the Indian chemicals industry." About MegVisaChem.com Since 1987, MegaVisa Marketing and Solutions Ltd. has been supplying the Indian market with chemicals manufactured by multinationals including Dow Chemicals, USA (Union Carbide Union Carbide Corporation (Union Carbide) is one of the oldest chemical and polymers companies in the United States, and currently has more than 3,800 employees. Corporation), Crompton Corporation Crompton Corporation, formerly Crompton and Knowles, is a chemical research, production, sales and distribution company headquartered in Middlebury, Connecticut. The company produces specialty chemicals used for polymers, fire suppressants and retardants, pool and spa water , USA, UOP (micro OPeration) The "u" is the substitute letter for the µ symbol. See microinstruction. Inter-Americana Inc., USA, Milliken Chemicals, USA, Allied Signals Inc., USA, and many more leading Chemical manufacturers. The company is an end-to-end service provider, involved in sourcing, negotiating terms for supply, order processing, financial risk management, transportation, logistics etc. The company's wholly-owned Singapore subsidiary, MegaVisa Solutions (Singapore) Pte Ltd PTE LTD Private Limited ., manages the entire supply chain. MegaVisa also has a full-fledged China Representative Office for sourcing various chemicals. About ChemConnect ChemConnect, Inc. (www.chemconnect.com) operates the World Chemical Exchange, offering buyers and sellers of chemicals and plastics a dynamic online marketplace supported by strategic e-commerce services. World Chemical Exchange Members have a choice of sales and procurement solutions that meet specific business requirements, and also benefit from ChemConnect's unmatched industry and e-commerce expertise. ChemConnect's online trading Online Trading Making trades via the Internet. Notes: The use of online trading increased dramatically in the mid to late 1990's with the advent of high-speed computers and Internet connections. Stocks, bonds, options, futures, and currencies can all be traded online. tools include the Exchange Floor, Corporate Trading Rooms, and the Commodities Floor. Founded in 1995, ChemConnect is headquartered in San Francisco, California “San Francisco” redirects here. For other uses, see San Francisco (disambiguation). The City and County of San Francisco (EN IPA: [sænfrənˈsɪskoʊ] and has offices in Houston, New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of , Paris, Philadelphia, Frankfurt, Rotterdam, London and Singapore. 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. |
|
||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion