ExxonMobil Chemical Company says the selection of Shanghai as the site for its new technology center reflects the importance of China in the business development and growth plans for ExxonMobil Chemical Company.

The technology center that will provide product applications support for its growing business in the Chinese and Asian markets is expected to be operational in 2010.

According to Steve Pryor, the president of ExxonMobil Chemical Company, the company expects about 60% of the world's petrochemical growth to occur in Asia, and it is rapidly expanding its manufacturing footprint through major capacity additions in Fujian and Singapore. Pryor added that the decision to build a technology center in Shanghai underlined ExxonMobil's long-term commitment to China and the region.

ExxonMobil Chemical develops and distributes premium products designed to add value through enhanced product performance, energy efficiency, pollution prevention, and greenhouse gas emission reduction.

The new technology center will be built and operated by ExxonMobil Asia Pacific Research & Development Company, and will be located in the Shanghai Zizhu Science-based Industrial Park. Laboratories and product demonstration facilities at the center will provide applications technical service and a range of applications development capabilities.