(Yicai Global) May 3 -- EasyPEC.Com, an e-commerce platform of China Petroleum & Chemical Corp. (Sinopec), will provide procurement, marketing and supply-chain financing services to Shandong Polymer Biochemicals Co., an oilfield chemical producer based in China’s eastern province of Shandong.
The latter signed the cooperation agreement with Sinopec’s materials and equipment department, Shandong Polymer Biochemicals said in a statement yesterday. The parties will strive to achieve CNY100 million (USD15.7 million) in transactions within one year, and to reach CNY300 million by 2020, per the statement.
Shandong Polymer Biochemicals will make full use of the specialist procurement and bid invitation services of EasyPEC.Com to realize its online procurement of needed materials. EasyPEC.Com will demonstrate the quality core products and technologies of Shandong Polymer Biochemicals and will recommend its products for Sinopec’s overseas projects. EasyPEC.Com will also offer Shandong Polymer Biochemicals its supply-chain financial services and will urge its cooperating financial institutions to provide preferential financing solutions.
Developed and operated by Sinopec, EasyPEC.Com, is a major e-commerce platform with the trade in industrial products as its core business. The platform adopts the supply-chain-to-business (SC2B) model and aims to feed the supply-chain demand centered on Sinopec. Shandong Polymer Biochemicals produces polyacrylamides and monomers for the petroleum, mining, paper and water treatment sectors, and provides oil and gas development technical services, public information shows.
Editor: Ben Armour