07 October 2013 15:15 [Source: ICIS news]
BERLIN (ICIS)--The focus of the chemical industry in Europe must change, SABIC CEO Mohamed Al-Mady, said on Monday.
Producers in the region should focus on research and cost efficiency, technology and innovation and on customer needs, he told delegates at the 47th annual European Petrochemical Association (EPCA) meeting in Berlin, Germany.
Al-Mady expects to see a knowledge-driven chemical industry develop in Europe, focused on the needs of the customer, particularly in the areas of food, health and biotechnology.
Some government assistance would be needed to facilitate change, he suggested, to build a competitive regulatory framework and to help underpin targeted product and business innovation.
Innovation support was needed not simply at the pre-competitive level but at the development stage. The focus of European companies should change, Al-Mady said, adding that governments should support that transition.
The annual EPCA meeting runs from 5-9 October.
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