ChemCross.com Establishes Alliance with Optimum Logistics To Provide On-Line Logistics Services.Business Editors & Internet Writers HOUSTON--(BUSINESS WIRE)--April 25, 2000 ChemCross.com, a global chemical trading Internet portal, has selected Optimum Logistics as its provider of online logistics services. ChemCross.com will incorporate Optimum's robust Internet-based system within its trading platform. This system will simplify tracking and tracing In logistics, tracking and tracing is the concept of locating property that is being forwarded from an origin to a destination through various hubs and passing along spokes, and determining the location and other status of such object. , and automate the notification process for logistics partners. ChemCross.com, based in Houston, is a business-to-business e-commerce start-up supported and funded by a consortium of 47 major Asian chemical companies. ChemCross.com plans to leverage the off-line trading relationship and the established market presence of its founding chemical companies, by increasing its investor and user base to more than 150 petrochemical petrochemical, any one of a large group of chemicals derived from a component of petroleum or natural gas. The cracking processes for manufacturing gasoline produce vast quantities of gaseous hydrocarbons. companies from around the world. "We are positioned to be a venue for chemical companies to conduct their business and gain access to business-related services through the Internet," says Michael Lee Michael Lee may refer to:
Optimum Logistics offers the first Internet-based, open logistics system for bulk materials. The company's principal offering is TransLink(TM), an online logistics solution that electronically arranges and monitors all stages of the supply chain by incorporating information from every party that touches a shipment -- from producers to transportation and storage providers, from freight forwarders An individual who, as a regular business, assembles and combines small shipments into one lot and takes the responsibility for the transportation of such property from the place of receipt to the place of destination. to surveyors. "ChemCross will connect petrochemical sellers and buyers to each other, and connect all users to other trading services such as storage, financing, insurance and transportation," adds Lee. "We view Optimum Logistics as an integral part of our trading platform. They were carefully chosen on the basis of their in-depth knowledge of the chemical transportation industry and their experience in logistics solutions. Further, we believe their system can add real economic value to the purchase and sale of materials on ChemCross.com." According to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. Ken Bloom, chief operating officer Chief Operating Officer (COO) The officer of a firm responsible for day-to-day management, usually the president or an executive vice-president. of Optimum Logistics, "We are honored to support ChemCross' vision of being a global chemical portal. Optimum's participation will bring ChemCross users access to a logistics system that tracks and traces even the most complex shipments through the supply chain." Optimum Logistics, based in Stamford, Conn., offers the first Internet-based, open logistics system for bulk materials. 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" ) is Optimum's first investor, and Optimum is presently in its second round of fundraising. For more information on Optimum Logistics and TransLink visit www.optimumlogistics.com. ChemCross.com expects to become the largest and most successful e-commerce platform in the chemical industry by offering three major segments of services. Its consortium-type Global Functional Hub Platform will provide a one-stop function for online business including transaction, logistics, payment and insurance. In addition, ChemCross.com also plans to have available on its site, the most versatile and frequently visited "On-Work" Industrial Vertical Portal A Web site that provides news, articles and services to a particular industry such as IT, finance and retail. It is the industry-specific equivalent of the general-purpose portal on the Web. Also called a "vortal." See portal, corporate portal, business intelligence portal and Web hub. , networked with other leading sites, for professionals in the chemical industry. Rounding out the services offered by ChemCross.com will be a Mega IT Network Hub See hub and hub vs. switch. , designed to be the worlds largest and most technologically advanced chemical network, highly focused on the IT needs of its shareholders and clients. The ultimate goal of ChemCross.com is to gain a leadership position in the on-line chemical industry by building its own strategic business segment and connecting with other major platforms through affiliations and alliances. |
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