Efodia to supply chemicals online CHICAGO — Two large chemical distributors have formed a new company to create a single-source supply chain for customers over the Web.
The new company, Chicago-based Efodia, will start in the fall and initially target customers for plastic and rubber compounding, chemical processing, adhesives and sealants and other chemical businesses.
The site will manage such areas as order filling, product sample requests and reporting capabilities tailored to both distributors and chemical producers. Efodia will link its computer software system to that of customers and suppliers.
Efodia is backed by chemical distributors Chemcentral Corp. of Bedford Park., Ill., and Amsterdam, Netherlands-based Holland Chemical International NV. Electronic Data Systems Corp. of Plano, Texas, will act as technology partner. The group said it plans to expand its alliance to manufacturers in the equipment and packaging industries.
Generating revenue through transaction fees, Efodia will begin in North America and eventually serve Europe, Latin America, Asia and South Africa. More information is available on the company's Web site, www.efodia.com.
Hong Kong toy firms form procurement site
HONG KONG — A group of nine Hong Kong-based toy manufacturers is forming an online marketplace aimed at buying plastic materials.
The Web portal, set to launch in the third quarter of this year, will offer a variety of electronic-commerce services covering all aspects of procurement, according to E-Commerce Resources Ltd., the company forming the unnamed portal.
E-Commerce Resources is a unit of Hong-Kong-based Internet provider Hutchison Whampoa Ltd. The company has lined up toy manufacturers that used $10 billion worth of plastic resin last year.
Founding members of the portal include Hong Kong-based Lung Cheong International Holdings, RBI Holdings Ltd. and Wah Shing International Holdings, according to published reports.
Covalex targeting chemicals customers
CHICAGO — A new company, Covalex.com, has launched a neutral chemical marketplace that features real-time pricing and product information.
Chicago-based Covalex will focus on chemicals used in manufacturing applications such as plastics processing, according to a company news release.
The site, www.covalex.com, offers as many as 24 ways to conduct transactions, such as reverse and forward auctions, real-time continuous bidding and public forums.
The company projected that by using the portal, clients can reduce transaction lengths from several weeks to a few days, with cost savings as high as 60 percent.
"Conducting business on the Web will be a necessity for those who want to remain competitive in their industries," said Bob Steel, Covalex chairman and chief executive officer. "Long term, it will help ease industry issues like price volatility and imbalances in supply and demand."
PolySort launches resing trading biz
AKRON, OHIO — After announcing an electronic-commerce merger, PolySort Inc. has launched its first e-commerce Web site, www.polymersite.com.
The neutral resin and compound trading site will use an anonymous, sealed-bid format to allow buyers and sellers to conduct transactions around the clock, according to Matt Wilkes, PolymerSite.com's sales director.
Cleveland-based PolymerSite, the Web site developer, merged with Akron-based PolySort in February.
PolySort is a 5-year-old Internet marketing company that operates two news and classified-advertising sites that link to other industry Web portals.
PMMI venture adds global e-commerce
FALLS CHURCH, VA.— Packexpo.com has added online ordering and purchasing capabilities to its Web site serving the global packaging industry.
The Falls Church-based company was launched in October as a joint venture between Falls Church-based Cendex Corp. and the Packaging Machinery Manufacturers Institute of Arlington, Va.
Until now, the portal served as a research and lead-generating function.
Buyers now can order and purchase packaging machinery, materials, parts and services online at the site (www.packexpo.com). By end of the second quarter, the portal also will offer reverse auctions allowing buyers to solicit live bids from sellers.
The exchange is available to the 5,300 packaging supply companies listed on its Web site. The portal will serve the global packaging business, with estimated sales of $450 billion a year.
Hanna customers get Web store services
LEMONT, ILL. — M.A. Hanna Resin Distribution has started an e-commerce Web store that will allow customers to purchase plastic materials and perform automated customer service functions.The site, www.hannaresindi rect.com, will permit manufacturers to place orders, inquire about inventory levels, makes sales requests, quote an order prior to placement and access their account histories.
"Our new Web store is the first of several user-friendly tools under development," said David Knowles, president of M.A. Hanna Resin Distribution of Lemont. "Future introductions will be aimed at further simplifying and automating transactions and access to information."
M.A. Hanna Resin Distribution is a unit of Cleveland-based M.A. Hanna Co. and distributes engineering and commodity resins in North America.
ePlast to go live during NPE 2000
MENLO PARK, CALIF. — A new company, ePlast.Com, plans to launch a Web site this summer that will serve as an electronic distributor of thermoplastic resins.
The Menlo Park-based company will enable global sourcing and distribution of materials for plastics processors over a neutral site, said ePlast President Bill Hughson. Material offerings can be personalized to fit customers based on geographic location and type of resin needed, he said.
The portal, www.eplast.com, plans to bundle materials under an ePlast private label to give customers a price break on certain resins, he added. Customers also will have the ability to work directly with resin suppliers over the site or be involved in resin auctions.
Company management includes former executives with resin distribution company Chemtex International Inc. of Menlo Park, GE Plastics and Hewlett-Packard Co.
The new company will launch its site during NPE 2000 in June in Chicago.