Awards Spotlight Chemical Industry Winners’ Use of Information, Analytics and ExpertiseEngineering360 News Desk | March 26, 2015
IHS announced that two companies were honored with IHS SPECTRUM Excellence Awards at the 2015 World Petrochemical Conference in Galveston, TX.
This award program celebrates organizations and individuals who leverage advanced information, analytics and expertise to make better decisions and achieve their business goals. The two most recent winners – Braskem Idesa S.A.P.I. and Toray Industries (America), Inc. – received their awards during an onstage celebration in front of more than 1,000 attendees.
“For years, chemical companies have been innovators in the use of best-in-class information and insight to address critical challenges at every level of the organization, from high-level strategy to daily operations,” says KC Chartrand, chair of the IHS SPECTRUM Excellence Award Committee. “Today we’re delighted to be here at the petrochemical industry’s premier event to recognize the success of two world-class organizations and to show how they are gaining competitive advantages through informed decision-making.”
The 2015 World Petrochemical Conference brought together senior chemical industry professionals from more than 40 countries. The stories of the two new IHS SPECTRUM Excellence Award winners clearly reflected the industry’s international scope.
Braskem Idesa is a joint venture of Braskem (headquartered in Brazil), one of the largest thermoplastic resins producers in the Americas, and Idesa, one of Mexico’s leading petrochemical groups. To launch its landmark Etileno XXI project, Braskem Idesa secured a total investment of $4.5B – the largest petrochemical investment in Mexico in 30 years – to build the largest petrochemical facility in the Americas, capable of producing more than 1 million tons of ethylene and polyethylene annually. This project was enabled by the company’s development of a market strategy that anticipated global market changes while securing competitive and adequate feedstock supply.
Toray Industries America is the U.S. subsidiary and regional corporate planning center of Toray Group, with headquarters in Japan and operations in 25 countries. Toray Industries America developed a strategic roadmap to meet its own growth target for North American markets by 2020. The company compiled a list of more than 400 market opportunities before selecting five top priorities and developing action plans to accelerate entry and increase traction in new markets. As a result, the project team received approval for all five plans from Toray Group’s CEO.
Read the full case studies for these two new award winners, as well as dozens of other industry leaders that have been honored in the past.