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12-19-2016

Trump Nominates Plastics Industry's Big Names

ExxonMobil Chairman and CEO Rex Tillerson has been nominated by U.S. President-elect Donald Trump to be secretary of state, adding to the line of chemical company and manufacturing executives Trump is tapping.

"The thing I like best about Rex Tillerson is that he has vast experience at dealing successfully with all types of foreign governments", Trump said on Twitter following the announcement. Tillerson, who joined Exxon as a production engineer in 1975, assumed his current jobs in ExxonMobil in 2006. He rose up through the ranks of the company’s oil and gas operations.

ExxonMobil is making significant investments in its plastics business. Last month, for example, it announced plans to increase PE capacity by 1.4 billion pounds annually at its Beaumont, Texas, location, a 65 % capacity increase.

Tillerson will join Dow Chemical Co. Chairman and CEO Andrew Liveris in the new Trump administration. The Australian-born chief executive of massive conglomerate Dow Chemical will head the American Manufacturing Council, which advises the Commerce Secretary and is charged with bringing manufacturing jobs back to the U.S. Liveris joined Dow's Melbourne office in 1976 straight out of university and was appointed chief executive in 2004 and chairman in 2006.

Others with plastics connections nominated to the Trump cabinet include Wilbur Ross, who was nominated to head the Commerce Department, and Betsy DeVos, who has nominated for secretary of education. Ross created auto interiors giant IAC Group in 2006 by buying interior trim operations from Lear Corp., the former Collins & Aikman Corp. and other firms. IAC is ranked by Plastics News as the second largest injection molder in North America. Ross also is chairman of resin distributor Nexeo Solutions Inc. DeVos’s plastics connection is in her family: her late father Edgar Prince founded auto parts injection molder Prince Corp. Johnson Controls Inc. bought Holland, Mich.-based Prince in 1996.

Source

Plastic News article

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