Petroleum, Chemical Consortium Bond To Form B4B Marketplace

An international group of chemical and petroleum companies has agreed to pursue creation of an "e-business for business" (B4B) global electronic marketplace for business-to-business transactions and services. The group, which announced the agreement in late March, is calling the marketplace Envera. It is being designed to enable a full range of business transactions among trading members -- vendors, customers, and suppliers in existing supply chains -- with links to global financial institutions, shipping companies, and other service providers. Envera is expected to be operational by third-quarter 2000. A key component of Envera, say its founders: Sponsorship by a consortium of firms rather than by a single industry entity. Envera members include Eastman Chemical, BF Goodrich Performance Materials, ChemCentral, Occidental Chemical Corp., and Sunoco Chemicals.

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