New US chem plants to target Asian markets: Gallogly

30 September 2013 21:43  [Source: ICIS news]

HOUSTON (ICIS)--US companies building new chemical plants will likely export the additional product to Asia, the CEO of LyondellBasell said on Monday.

Many of the company's competitors already export to Asia, said Jim Gallogly, LyondellBasell CEO.

He made his comments on the sidelines of the opening ceremony of the Houston Technology Center, a new research and development (R&D) site.

Those companies are now planning for the logistics necessary to ship that product to Asia, such as making sure they can bag the material, Gallogly said.

Currently, LyondellBasell sends its excess polymer to South America, he said.

However, LyondellBasell is also expanding capacity at its US plants, and that new capacity could be sent to Asia, he said.

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By: Al Greenwood
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