Eight major chemical companies announced a definitive agreement formally creating Elemica, an independent electronic marketplace for the chemical industry. The companies are investing a total of $100 million in the company, with the targeted operational launch date set for December.

The companies are ATOFINA, BASF, Bayer, BP, Dow, DuPont, Rohm and Haas, and Shell. An additional 12 companies have agreed in principle to invest and participate in the marketplace, and are in the process of entering into definitive agreements with Elemica. They are Air Products and Chemicals, Ashland Distribution Co., Celanese, Chemcentral Corp., Ciba Specialty Chemicals, Degussa-Hüls, DSM, Mitsubishi Chemical Corp., Mitsui Chemicals, Rhodia, Solvay, Sumitomo Chemical, and Van Waters & Rogers.

Elemica is described as an independent company designed to facilitate contract buying and selling of basic, intermediate, specialty, and fine chemicals. Plans for the business were initially announced in May. Until the company’s transactional site is operational, information about services, participants, news and contacts can be obtained from www.elemica.com.