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ICIS and CBI China Form Joint Venture to Create China's Leading Commodity Market Information Company

ICIS
2007-08-15 19:09 13231

LONDON and SHANGHAI, China, Aug. 15 /Xinhua-PRNewswire/ -- ICIS, http://www.icis.com/Home/Default.aspx, the commodity market information business of Reed Business Information UK Ltd, and CBI China Ltd http://www.cbichina.com/ , China's domestic commodity market information leader, have formed a joint venture to create China's most powerful commodity market information company.

ICIS and CBI China have announced this week that they formed a joint venture to deliver information on Chinese markets to a global audience involved in or monitoring commodities in this region. At the same time, the new company will offer global market intelligence to their Chinese customers. As part of this joint venture RBI has taken an equity stake in CBI.

ICIS Publishing Director Christopher Flook said: "Chinese demand is driving world commodity markets. We hope that ICIS-CBI can facilitate that trade by delivering comprehensive international market data to local companies, and unparalleled China market information to international players. Our joint venture will encompass detailed coverage of oil products, gas and over 200 petrochemical markets in both English and Chinese, by email, web and SMS."

"Similarly, Chinese customers are calling out for accurate and, above all, trusted information on international commodity markets. We are delighted to offer them the most reliable global market intelligence from ICIS, which complements the information they have come to rely upon from CBI," added Patrick Zhang, CBI China Chief Executive Officer.

The international supremacy of ICIS combined with CBI's leadership position in domestic chemical and metals markets, creates China's most powerful commodity market information company.

"The alliance bolsters ICIS' position as the world's leading provider of market information on petrochemical markets", said Jim Muttram, RBI UK Managing Director. "It also provides RBI with a fantastic base upon which we can build our business in China".

Notes to Editors:

ICIS

ICIS, the world's leading information provider for the chemical and oil industry, is part of Reed Business Information (RBI), a division of Reed Business and a member of Reed Elsevier plc (525), (UK:REL) (NYSE:RUK) (NL:45443) the world's leading publisher and information provider. For more information on ICIS visit http://www.icis.com

CBI China

CBI CHINA is the largest comprehensive source for information on China's major commodity markets and industries such as petrochemicals, steel, oil and gas, non-ferrous metals, pulp and paper. With its experience and vast reach throughout China, CBI has developed a unique information network and business model for tracking commodity markets. For more information on CBI China visit http://www.cbichina.com

Source: ICIS
Keywords: Chemical
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