press release

Chevron Press Release - Chevron Chemical Co. LLC Opens Singapore Plant

SAN RAMON, Jan. 27, 1999 -- Oronite Additives, a division of Chevron Chemical Co. LLC, today announced that it has started commercial production at its new $215 million Singapore plant, the largest fuel and lubricating oil additives manufacturing plant in Asia.

Speaking at ceremonies held at the Jurong Island chemical complex site, Oronite General Manager Jim Lieto told industry and government visitors that the plant is in regular production and building inventory for commercial sales to begin in March.

"Oronite customers in the region will soon be receiving quality products manufactured in Singapore and have the advantages of faster response and shorter delivery times. Essentially, that translates to more efficient inventory management and substantial savings," said Lieto.

Lieto noted that the economic situation in Asia is considerably different than it was when construction began two years ago. Nevertheless, he said, "We feel good about our base business and the growth opportunities in Asia, and we anticipate a renewed and strengthened economy in the region for the longer term.

"Our commitment to be an efficient and reliable supplier of quality additive products to our customers is stronger than ever. Our new plant is truly a state-of-the-art facility. This commitment and investment sets Oronite head and shoulders apart from other additive companies doing business in the region," Lieto continued.

The Singapore plant will manufacture 26 individual additive components from over 40 different raw materials, and will blend these components to produce more than 150 finished additive package blends, tailored to individual customer needs.

The plant is a key element of Oronite's strategy to strengthen its position as a leader in the fuel and lubricant additives industry. Oronite purchased the Paratone Viscosity Index Improver business from Exxon in October 1998, making it the world leader in Viscosity Index Improvers. With the new plant, Oronite now has a worldscale plant primarily dedicated to each of its three operating regions: Oak Point, La., in the Americas: Gonfreville, France, for Europe/Africa and Middle East, and now Singapore in Asia-Pacific. Oronite also has production facilities in Mexico, Japan, Brazil and India.

Chevron Chemical Co. LLC, a wholly owned subsidiary of Chevron Corp., is headquartered in San Ramon, Calif. Oronite is a leading developer, manufacturer and marketer of lubricant and fuel additives.

Updated: January 1999