press release

Chevron Press Release - Chevron Chemical To Construct Polystyrene Plant In China

SAN RAMON, Calif., July 29, 1996 -- Chevron Chemical Company today announced that it recently reached a land-use agreement with the city of Zhangjiagang, Jiangsu Province, People's Republic of China, and now plans to build a polystyrene plant there. Construction is expected to begin in late 1996 or early 1997 and will take two years to complete.

The plant will have an initial capacity of 40,000 tons per year of general purpose polystyrene. Ultimately, 100 workers will be employed at the new facility. Plans include an increase in annual capacity up to 150,000 tons and the addition of high-impact polystyrene production.

"This is Chevron Chemical's first investment in China and we are excited about the growth opportunities for polystyrene in the Chinese market," said President John Peppercorn.

Peppercorn noted that Chevron Chemical is transferring proprietary technology it utilizes at its polystyrene plant in Marietta, Ohio. "By doing this we are supporting China's intent to be self-sufficient with respect to chemicals," he said. "The company's long-term goal in China is to build additional polystyrene plants as well as pursue other petrochemical businesses."

Chevron Chemical, with about 5,000 employees, is a $4 billion wholly owned subsidiary of San Francisco-based Chevron Corporation. Its main products are benzene, styrene, polystyrene, paraxylene, ethylene, propylene, polyethylene, normal alpha olefins and a variety of additives for fuels and lubricants. Chevron Chemical has plants in 10 states. With five non-U.S. affiliates and 18 subsidiaries, it operates in more than 80 countries.

Updated: July 1996