Foreign chemical firms strengthen hold in U.S.: In past 10 years sales by foreign chemical companies in U.S. have almost quadrupled to about $4 billion

One of the very fastest growing parts of the U.S. chemical industry over the past decade has been the part owned by foreigners. Between 1960 and 1970 annual shipments of all chemicals and allied products in this country grew by 86%—from $26.6 billion to $49.6 billion. But over these same 10 years sales generated by foreign-owned chemical operations in the U.S. quadrupled— from about $1 billion per year at the start of the decade to $4 billion last year. And further sharp gains are already assured for this year and next. These numbers include only the sales of basic chemicals, plastics resins, man-made fibers, drugs, specialty chemicals, fertilizers, and soaps—in other words chemicals and allied products. They do not include sales of petroleum products, pulp and paper, nonferrous metals, or other such essentially nonchemical products sometimes included as part of the overall chemical processing industry. A majority of leading foreign chemical companies now have an ...