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ExxonMobil eyes China and India for growth

ExxonMobil Chemical said bulk of the growth for its products in the near future will be in China and India.

Written by Ashok Kumar( | New Delhi | Published: February 27, 2009 7:50:15 pm

ExxonMobil Chemical is one of the world’s premier petrochemical companies with manufacturing,technology and marketing operations in chemicals and plastics. John R. Verity,Global Vice President of the Polyolefins Business Unit joined the company in 1980 is a chemistry graduate from Oxford University,England.

Expressing faith in the developing world,Verity said,the bulk of the growth for ExxonMobil Chemical’s products in the near future will be in Asia,especially China and India. These are the markets which show us a ray of hope amid the uncertainty surrounding the polymer markets at present.

Talking about the Indian market in the field of polymers,Verity expressed his hope for growth in this segment due to the growing middle class of the subcontinent. “I feel there is tremendous opportunity which comes along with the growing number of people having disposable incomes and the retail revolution,” verity said.

Explaining how middle class brings more opportunities in India for the polymer market,verity said it is because of growth in the use of high-end technology and a significant growth in the sophisticated market. “At present,India accounts for around 1% of ExxonMobil Chemical’s global revenue,but this is set to rise in the years to come,as the Indian market expands.,” he clarified.

When asked about to underline some of the challenges which hamper the growth of industry in India,Verity stressed on the need to improve the infrastructure,roads as well as the rail transport. Praising the huge amount of skilled workforce available in the country verity said,“Indian workers are second to none”.

Having worked for 29 years,John Verity worked in a series of sales,marketing and strategic planning roles within Exxon Chemicals’ European PE business. In January 2005,John was appointed to the position of Vice President,Research and Development,ExxonMobil Chemical Company and in October 2006,he was appointed to the position of Vice President,Polyethylene Global Business Unit.

When asked about his long tenure at ExxonMobil,Verity,attributed his stay to excellent corporate culture at the company. “ExxonMobil develops its managers from within,” he emphasized.

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