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Dow chooses ChemConnect as third-party exchange

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San Francisco--Dow Chemical Co. on Monday named ChemConnect, an international online exchange for chemicals and plastics, as its exclusive third-party exchange for Dow's Internet-based purchases of chemicals and plastics. Additionally, Dow made an equity investment in ChemConnect. "We intend to use ChemConnect for spot purchases of raw materials," Gary Veurink, Dow VP-global purchasing, said in a press release. "As we gain experience, we intend also to utilize ChemConnect's trading rooms for suppliers to compete for long-term business." Dow joins Eastman Chemical Co., Rohm and Haas, Andersen Consulting, CMAI and ChemicalWeek Ventures in making an equity investment in ChemConnect.
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