At the same time, it's more important than ever to be focused on customers, Reilley adds. You can have all your plants running efficiently, but you've also got to be out there understanding the customers' needs. Partnerships with customers are crucial, he says. In the past, we as an industry have been guilty of building a new plant first and then after it is up and running, we start worrying about where to sell the additional product. But now, before we commit to a new plant, for example, we want to know where the additional capacity is going to go.
Downstream integration is another factor important to success in today's market.
By respecting these business fundamentals, petrochemical producers hope to use 1996 as a time to catch their breath, according to Reilley, and position themselves to serve new derivative plants that are slated to go onstream in 1997 and 1998. They seem resigned to the prospect that 1996 won't be a stellar year. But it is likely to behave as the mirror image of 1995 - strengthening with each consecutive month. Because in December, you always have a new year to worry about, and it's good to have the momentum to carry you forward.