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Huge e-marketplace for chemicals planned

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An international consortium of chemical manufacturers, including BP Amoco, Dow, DuPont and Mitsubishi, announced Wednesday that they have agreed to create an international e-marketplace for the industry. The proposed neutral online marketplace will be designed to allow e-procurement and to simplify supply chain logistics for basic, intermediate, specialty and fine chemicals. The size of this global market is estimated to be $400 billion. The marketplace will attempt to embrace a large segment of the chemical industry from suppliers to distributors to processors. The founding companies expect the Wilmington, Del.-based operation, which will focus on contract sales, to be functional by the end of the year.
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