Equity investment in CheMatch.com

Pigment & Resin Technology

ISSN: 0369-9420

Article publication date: 1 April 2000

Keywords

Citation

(2000), "Equity investment in CheMatch.com", Pigment & Resin Technology, Vol. 29 No. 2. https://doi.org/10.1108/prt.2000.12929bab.004

Publisher

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Emerald Group Publishing Limited

Copyright © 2000, MCB UP Limited


Equity investment in CheMatch.com

Equity investment in CheMatch.com

Keywords: Millennium Chemicals, CheMatch.com, Investment

Millennium Chemicals Inc. (NYSEMCH) ("Millennium") informs us that it has made an equity investment in CheMatch.com, an Internet-based, global, real-time trading system, through its participation in CheMatch's successful equity private placement. CheMatch.com announced that it has received funding from one other chemical company, Du Pont (NYSE-DD), and other financial investors as part of second round financing valued at $30 million.

William M. Landuyt, Chairman and CEO of Millennium, said: "This investment in CheMatch.com will help establish a foothold for Millennium in business-to-business e-commerce, which is the next major growth segment in the US economy. CheMatch.com is the best Internet chemical trading system serving the multi-billion dollar worldwide petrochemical markets. Its future growth potential is unlimited, with initiatives planned that go well beyond its existing trading platform."

CheMatch.com (www.chematch.com) is a global Internet exchange 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. More than 50 leading chemical companies are represented on the exchange, which has an average transaction of $530,000. CheMatch.com companies have served the chemical industry since 1995.