20 November 2013 09:43 [Source: ICIS news]
DUBAI (ICIS)--Petrochemical companies need to keep in mind the future needs of the society and try to make products that are useful in meeting people’s needs, an industry executive said on Wednesday.
“A company can survive for as long as the society needs it,” Shigeo Ohyagi, President and CEO of Teijin said. “Therefore, we [Teijin] continue to think what society needs in the future.”
Ohyagi was speaking at the 8th annual Gulf Petrochemicals and Chemicals (GPCA) Forum in Dubai.
He said petrochemical companies should be ready to use chemistry and technology “to provide solutions” to the society.
Ohyagi cited a number of innovative products that Teijin has developed, or is in the process of developing, including polyester chemical recycling technology and water treatment technology by an activated biological process.
Chemical recycling technology decomposes polymer to monomer and reduces carbon dioxide (CO2) emissions.
Teijin has entered into a joint venture with a Chinese manufacturer and will start building its recycling plant in May next year, Ohyagi said but did not give further details.
The Japanese producer is also working on carbon fibre for high-end uses, Ohyagi said, adding that its applications will result in the improvement of aircrafts and automobiles, and a reduction in CO2 through improved fuel efficiency.
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