On-line e-commerce firm Elemica adds 14 investor firms

06 October 2000 23:23  [Source: ICIS news]

HOUSTON (CNI)--On-line chemicals e-commerce company Elemica announced Friday it has added 14 investor partners and has closed its investment round in advance of the service's trading launch in December.

With the addition of 14 investor partners, the number of shareholding chemicals companies in the Elemica e-marketplace totals 22, with initial capitalisation of at least $100m (Euro115m).

The 14 additional investor partners, who signed investment agreements in Paris earlier today, include Air Products and Chemicals, Celanese, ChemCentral, Ciba Specialty Chemicals, Degussa-Huls, DSM, Millennium Chemicals, Mitsubishi Chemical, Mitsui Chemicals, Rhodia, Solvay, Stinnes, Sumitomo Chemical, and Vopak International.

The eight founding investors are AtoFina, BASF, Bayer, BP, Dow, DuPont, Rohm and Haas, and Shell Chemicals.

In announcing the new partners Friday, Elemica noted that all of its funding sources are exclusively from within the chemicals industry and the company is free of third-party venture capital. It also emphasised that its investor membership represents major firms from Asia, Europe and the Americas.

Once operational in December, Elemica will be open to any trading participants, the company noted.

By: Joe Kamalick
+1 713 525 2653

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