ChemConnect sells trading business

By Dave Hannon -- Purchasing, 6/7/2007 11:37:00 AM

ChemConnect has sold its commodity trading business to Intercontinental Exchange. ICE says ChemConnect is "the leading electronic marketplace for the $150 billion U.S. natural gas liquids and chemicals markets.” ChemConnect's natural gas liquids markets include propane and ethane, while its chemicals business include ethylene, propylene and benzene. A year ago, ChemConnect added ethanol to its trading platform.

ICE expects to transition ChemConnect's products and customers to the ICE platform, as well as transition the ChemConnect data business to ICE Data during the same period. The all-cash transaction is expected to be completed by the middle of July, and the terms of the transaction have not been disclosed.

ChemConnect maintains its Supply Chain Solutions business, which provides negotiations solutions and collaboration hubs.