ExxonMobil Chemical inherits Exxon's Asian expansion plan

12/20/1999
ExxonMobil Chemical, a division of the new oil giant ExxonMobil Corp. (see story, p. 26), is in the final stages of an ill-timed Asian petrochemical expansion plan implemented by predecessor Exxon Chemical.Exxon Chemical's strategy was to become the leading player in Asian petrochemicals. The plan was launched not long before a severe economic crisis hit the region in late 1997.Now, the plants are beginning to come on stream just as the region is beginning to emerge from an extended period of economic contraction.By the end of 2000, the new ExxonMobil will have finished four petrochemical projects in Asia and one the Middle East. These include: a $2 billion chemical complex in Singapor...
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