Adhesives Magazine

Leading Players in the Chemical Industry Sign Investment Agreement with Elemica

November 28, 2000
PARIS — Elemica, the premier, neutral online chemicals e-marketplace, received a significant boost in October as 14 leading industry players formalized investment agreements with the company. These new investors join eight other companies that signed agreements with Elemica in mid-August -- bringing the investor total to 22 major companies from around the world including Asia, Europe and the Americas.

Elemica is entering the chemical market with an unprecedented level of financing and industry support, and is the first e-marketplace to receive global participation. All of its funding sources are exclusively from within the chemicals industry, with no venture capital participation. Once operational, the company will focus on the contract buying and selling needs of the chemical industry.

The October signing signifies the last investment round in Elemica, which is now fully funded. An independent, stand-alone company, Elemica was formally founded on August 15th, 2000.

The following companies have signed the investment agreement with Elemica: Air Products and Chemicals, ATOFINA, BASF, Bayer, BP, Celanese, ChemCentral, Ciba Specialty Chemicals, Degussa-Hüls, Dow, DSM, DuPont, Millennium Chemicals, Mitsubishi Chemical Corp., Mitsui Chemicals, Rhodia, Rohm and Haas, Shell Chemicals, Solvay, Stinnes, Sumitomo Chemical and Vopak International.