ExxonMobil Chemical has started construction of a new technology center in Shanghai that will be operational in 2010.
The new 27,000-square-meter facility will be built and operated by ExxonMobil Asia Pacific Research & Development Company Limited. The initial investment in the technology center and related equipment is USD70 million, and it will house laboratories and product demonstration facilities, providing applications technical service and a range of application development capabilities for ExxonMobil's polymer products and plasticizers. Initial employment will be approximately 200 people.
The groundbreaking ceremony, held on its site at Shanghai Zizhu Science-based Industrial Park, was attended by Liu Jinping, vice chairman of the Shanghai Municipal Commission of Commerce; Steve Pryor, president of ExxonMobil Chemical Company; Bob Davis, vice president of global technology at ExxonMobil Chemical Company; and Paul Theys, chairman of ExxonMobil (China) Investment Company Limited.
"This new center in Shanghai is an important step towards supporting the tremendous growth we anticipate in sales of our premium products. It will expand our ability to deliver innovative solutions to our customers in the region," Pryor stated.