13 August 2007 09:42 [Source: ICIS news]
SINGAPORE (ICIS news)--ICIS, the commodity market information business of Reed Business Information (RBI) UK, said on Monday it has formed a joint venture with CBI China to provide information on the Chinese market.
The joint venture ICIS-CBI will deliver information on Chinese markets to a global audience involved in or monitoring commodities in this region, ICIS said in a statement.
At the same time, the new company will offer global market intelligence to their Chinese customers, it added.
As part of this joint venture, RBI has taken an equity stake in CBI, ICIS said.
"The alliance bolsters ICIS’ position as the world’s leading provider of market information on petrochemical markets, said Jim Muttram, RBI UK managing director.
"It also provides RBI with a fantastic base upon which we can build our business in China."
The joint venture will encompass detailed coverage of oil products, gas and over 200 petrochemical markets in both English and Chinese, by email, web and SMS, ICIS publishing director Christopher Flook said.
CBI will be able to offer reliable global market intelligence from ICIS to Chinese customers whom were calling out for accurate information on the international commodity markets, Patrick Zhang, CBI China CEO, said.
ICIS is the world’s leading information provider for the chemical and oil industry while CBI, which owns Chemease, is the largest information provider on China’s major commodity markets and industries such as petrochemicals, steel, oil and gas, non-ferrous metals, pulp and paper.
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