Composites World / NetComposites

Connecting you to the composites industry

Advertisement

NetComposites Ltd has transferred the rights and ownership of this website to Gardner Business Media Inc.

On 1st January 2020, NetComposites' media assets including netcomposites.com, newsletters and conferences were transferred to Composites World (Gardner Business Media).

This site is no longer being updated. Please direct all enquiries to netcomposites@gardnerweb.com.

For further details see our joint press release.

Omnexus to close transactional platform

  • Thursday, 4th December 2003
  • 0 comments
  • Reading time: less than a minute

Plastics e-marketplace Omnexus will close down its transactional platform at the end of this month, the company has announced.

The e-commerce company, despite significant progress and several changes to its business model in the past three years, has not been able to achieve sufficient e-commerce adoption to support its marketplace, said COO Michael Walsh. In a letter to customers on November 13th, Walsh said “Omnexus has been at the forefront of e-commerce marketplaces and we are proud of what we have accomplished, but as your may know, e-commerce adoption rates have been much slower that originally projected.”

Omnexus, which was founded by Bayer, BASF, Dow, Dupont, and Ticona more than three years ago, will direct a significant portion of its transaction volume to Elemica and will complete an orderly wind-up of the company by year end. The move is expected to affect about 45 persons in North America and Europe.

Walsh said talks are underway with potential buyers for the e-marketing side of the business. He said that to date no buyers have surfaced for the technology platform.


For more information visit:


Share this article


More News


Comments (0)

Leave your comment