Magnaquest B2b Vortal Offers Trading Exchange

Hyderabad-based Magnaquest Technologies yesterday launched a comprehensive business-to-business vortal, Chemvalue.com.

The vortal aims at creating a virtual trading exchange and assisting supply chain management for the chemicals and polymer industry.

The other promoters of Chemvalue.com include Mumbai-based ideasnyou.com and the Karnani family, involved in chemicals manufacturing since 1965.

The online chemical exchange of the vortal has two distinct trading floors, a Chemical Exchange India _ for India-to-India trade _ and a Chemical Exchange World - for International trade.

According to Vijay Debbad, managing director, the exchanges went online a month ago and already have 600 registered users, including registrations from the US, Australia and Germany. Several leading pharma and chemical companies, like Dr Reddys Laboratories, ITC Bhadrachalam, Aurobindo Pharma and Gujarat Alkalies, have registered themselves with the vortal. "We have already received 435 enquiries from potential buyers valued over Rs 100 crore," said Vijay.

 

Chemvalue proposes to charge a transaction fee of 0.25 to 2.0 per cent on buyers and sellers. On the anvil are virtual store fronts branded as Chemicalshop, serving retail requirements,f:\user\pq8f and careers module branded as Chemskills.