Business-to-business marketplace competitors ChemConnect Inc. and Envera LLC Thursday announced their merger.
The combined forced, which will be called ChemConnect, will offer end-to-end connectivity for companies buying and selling chemicals and plastics, the suppliers said today in a statement. ChemConnect will combine its sales and procurement products with Envera's supply chain capabilities. Financial details of the deal were not disclosed.
The merger is the latest in a string of marketplace consolidations and leaves the chemical consortium trading exchanges with two other alternatives - Elemica and Omnexus.
According to AMR Research Inc., the merger will return ChemConnect to its original focus as an e-business platform for chemical industry buyers and sellers. But as consortiums became popular ChemConnect moved from being an e-business platform towards commodity trading.
John Robinson, ChemConnect CEO, will now become CEO of the merged company, while Bob Mooney, Envera CEO, will become an appointed member of ChemConnect's board of directors.
ChemConnect operates the World Chemical Exchange, which contains more than 60,000 chemical and plastic products with access to more than 30,000 suppliers.