27 June 2012 21:41 [Source: ICIS news]
HOUSTON (ICIS)--Innovation by the chemical industry is being threatened by overregulation, an official with the Society of Chemical Manufacturers and Affiliates (SOCMA) said on Wednesday.
“Our industry is one of the most regulated,” said William Allmond, the vice president of government and public relations at SOCMA. “Regulations are on the rise, both at home and in overseas markets.”
Allmond made his remarks during the Specialty Chemical Forum in Houston, organised by UBM and InformEx.
“The federal government this year is on track to finalise over 4,000 new regulations …or on average 11/day,” Allmond said. “Our government partners need to be reminded of the cost these regulations have on our ability to innovate.”
The CEO of a SOCMA member company recently told a panel of regulators and legislators that her company’s ability to innovate is the only way it stays in business, Allmond said.
“This very well sums up what we do in this industry [compared with] other manufacturers,” he added.
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