Omnexus shutting down e-marketplace

Omnexus, the global plastics e-marketplace founded by several resin companies, has tossed in the towel. The company will close down its e-commerce platform at the end of November, and wind-up the company by year end.
Despite several changes to its business model over the past three years, Omnexus has not been able to achieve sufficient e-commerce adoption to support its marketplace, said COO Michael Walsh. He stated that e-commerce adoption rates have been much slower than anticipated.
Omnexus will divert a significant portion of its transaction volume to Elemica, a chemical industry marketplace.
Walsh stated that talks are underway with potential buyers for Omnexus’ e-marketing business, which includes the daily newsletter and other means for producers to communicate with the industry.