press release

Chevron Press Release - Chevron Chemical To Study New Additives Plant In Singapore

SINGAPORE, April 21, 1995 -- Chevron Chemical Company announced today that it has started feasibility engineering and final site arrangements for a worldscale facility to manufacture chemical additives for lubricating oils and fuels in Singapore. The export-oriented plant would be operated by Chevron's Oronite Additives Division through its 100-percent-owned Chevron Chemical (Far East) Pte. Ltd. subsidiary.

Preliminary agreement has been reached with the Singapore Economic Development Board and the Jurong Town Corporation for a site on Pulau Sakra, part of the Jurong Island Industrial Estate, which is focused on chemical industry projects. Construction would begin early 1996, with initial operations in 1998. Chevron's final decision to proceed with construction will be made after completion of detailed cost estimates later this year.

Chevron's Corporate Vice President for Chemicals, John Peppercorn, met with Singapore officials this week. Afterward, he said, "We are delighted with the opportunity to expand our Oronite Division operations here in Singapore as our hub for the Asia Pacific Region. This project reflects Chevron's strategic intent to invest in attractive chemical growth markets. The encouragement of the local authorities has been a big plus in our decision to consider Singapore."

Gong Wee Lik, Director, Chemicals, of the Singapore Economic Development Board said, "We welcome Chevron's interest in Singapore. Chevron's lubricant additive project has a strategic fit with Singapore's thrust to develop the specialty chemicals industry. Our intent is to enhance Singapore as a critical support base, supplying high value-added specialty chemicals and intermediates to key growth industry clusters both in Singapore and in the Asia-Pacific region. This project marks the beginning of the partnership between Singapore and Chevron. We look forward to working with Chevron to identify new and exciting opportunities in Singapore."

Chevron Chemical, headquartered in San Ramon, Calif., USA, is a wholly owned subsidiary of San Francisco based Chevron Corporation. The Oronite Division develops and markets lubricating oil and fuel additive products worldwide. Oronite has other major manufacturing sites in Oak Point, La., USA; Gonfreville, France; Maua, Brazil; and Omaezaki, Japan. Joint venture plants are located in San Juan del Rio, Mexico, and Madras, India.

Updated: April 1995