Exxon 2010 Annual Report Download - page 31

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Our recently commissioned 220,000-square-foot Shanghai
Technology Center in China will deliver innovative customer
applications. It is equipped with more than 160 analytical and
testing instruments, as well as 22 development-scale and
16 commercial-scale product processing machines.
ExxonMobil Chemical expanded our competitive advantage in return on capital employed both at the top
and bottom of the last business cycle.
RESULTS & HIGHLIGHTS
Workforce safety performance was best-ever
for
ExxonMobil Chemical. We continue to lead our competitors
in lost-time injury performance.
Earnings were a record $4.9 billion,
reflecting
the positive impacts of advantaged feedstock, a high degree
of integration, and record earnings from our
specialty businesses.
Return on average capital employed was 26 percent,
averaging 20 percent over the last 10 years, outperforming
competition throughout the business cycle.
Prime product sales of 25.9 million tonnes were
4 percent higher than 2009,
including an 8-percent
increase in specialty sales. Total sales reflect industry
demand recovery and the start-up of new capacity at
our joint venture in Fujian, China.
Chemical capital expenditures were $2.2 billion,
as construction activity peaked on our world-scale project
in Singapore. We continued disciplined investment in
specialty business growth and high-return efficiency projects.
The Shanghai Technology Center was commissioned
to support premium product growth in Asia Pacific.
2010 was a record year for ExxonMobil Chemical Company.
We outpaced competition in both safety and financial performance.
20
percent
average return
on capital employed
over the last 10 years,
more than double
that of competition
29
EXXON฀MOBIL฀CORPORATION฀ •฀ 2010฀SUMMARY฀ANNUAL฀REPORT