SAN FRANCISCO (July 12, 6:10 p.m. EDT) — ChemConnect Inc. has started joint ventures with four Japanese chemical companies to operate online chemical and plastics exchanges in that country.
The agreement will help ChemConnect trade materials online in Japan, which the company called the world's third-largest chemical marketplace, with more than $400 billion in annual sales.
The San Francisco-based company has established two joint ventures: ChemConnect Japan, offering online chemicals and plastics trading, and Chemical Mall Asia-Pacific, an online `manufacturers' mall' offering other services to resin buyers.
The agreement is with four leading Japanese resin companies: Mitsui & Co. Ltd., Mitsubishi Corp., Sumitomo Corp. and Marubeni Corp.
The sites will include a trading environment integrated with logistics, financial, credit and ancillary services. Customers will also have access to global trading through ChemConnect's World Chemical Exchange.
ChemConnect will manage the joint venture, and other companies will provide resources and other services to help establish the new companies. No launch date has been announced.
The U.S.-based bulk trading company has other overseas offices in Frankfurt, Germany; London; Paris; Rotterdam, the Netherlands; and Singapore.