LANXESS, a specialty chemical firm, has reportedly established CheMondis, which is a cross-producer and cross-dealer business-to-business platform intended to buy and sell chemical products. Matthias Zachert, Chairman, Board of Management, LANXESS AG, was quoted stating that formulating new business models is a pivotal aspect of the LANXESS digitalization movement. Speaking of CheMondis, Zachert pointed out that the company has inaugurated an online marketplace that precisely targets the requirements of the chemicals sector. Sebastian Brenner, Managing Director, CheMondis GmbH, mentioned in a comment that while developing CheMondis the company has constantly focused on the wishes and needs of its consumers. Elaborating further Brenner stated that the result is an extremely modern and dependable digital marketplace where chemical goods can be bought or sold. He added that in just a few weeks, the digital platform has got registration from over 200 companies. In this project the company has indeed combined deep knowledge of the chemicals domain, a startup energy, and a next-level technological expertise, said Brenner. For the record, CheMondis is a fully owned business subsidiary of LANXESS and has its headquarters located in Cologne. The organization contains its own labor force, IT systems, and branding. It reportedly supplies about 500 products sourced from varied distributors. If reports are to be believed, LANXESS initiated its company-scale digitalization program in 2017 which gave birth to CheMondis. The group has reportedly created a separate group function under the supervision of JÃ¶rg Hellwig, company’s Chief Digital Officer, to build digital trade models, launch new technologies across the value chain, create and employ big data, and nurture digital proficiency among workers. For the uninitiated, LANXESS is a specialty chemicals behemoth which had sales of EUR 9.7 bn in the year 2017. The chemical giant operates in 33 nations and is designated at 59 manufacturing sites across the globe. The fundamental business of LANXESS is the formulation, production, and promotion of specialty chemicals, chemical intermediates, additives, and plastics, cite reliable sources.