ChemXL, the newly launched e-procurement and sales portal serving the North American petrochemical industry, has acquired chemB.com, one of the largest online chemical and bulk pharmaceutical trading sites in India.
Formed in early 2000, chemB.com features an online, virtual chemicals marketplace and customised storefronts, supported by offline financial credit, customs clearance and logistics services.
The site has more than 2000 users in Asia and facilitates online purchases and sales primarily in semi-commodities and specialties including pharmaceutical intermediates.
The company will continue to operate under the chemB.com name as it expands its presence within India and explores extending its business model to other regions in Asia.
J.P. Morgan, who owned an equity interest in chemB.com, will continue to hold an interest in the newly merged businesses.