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FUNDAMENTAL STRENGTHS AND SOLID PERFORMANCE EMPHASIZED AT 1993 ARCO CHEMICAL ANNUAL MEETING

 NEWTOWN SQUARE, Pa., May 13 /PRNewswire/ -- ARCO Chemical Company (NYSE: RCM) held its annual meeting today at its world headquarters in Newtown Square, PA. Alan R. Hirsig, president and chief executive officer, told stockholders that despite the worldwide economic downturn, the company's fundamental strengths resulted in "solid financial performance" in 1992.
 Net income for 1992 rose 4 percent to $195 million and revenues "topped $3 billion for the first time ever," Hirsig said.
 He added that the company's strengths position ARCO Chemical to be a "stronger force in the '90s," and include proprietary technology, an exceptional network of sales, manufacturing and technical support, and "our talented and highly motivated employees."
 Concerning technology, Hirsig commented that the company has more than two decades of experience in building and operating PO plants around the world. "We've developed a technological know-how that's second to none. We continue to refine and improve that technology," Hirsig said.
 He pointed out that the company's new world-scale propylene oxide/styrene monomer plant in Channelview, Texas, which started up last fall, reflects "the very best of what we've learned -- truly state-of- the-art." Hirsig also told stockholders that the company's PO technology continues to give ARCO Chemical significant cost and environmental advantages over competitors that depend on older chlorine- based technology.
 Hirsig indicated ARCO Chemical has become a truly international company with 40 percent of its assets and half it sales outside the U.S. He noted:
 "We are a dynamic participant in the international marketplace and a leader in those areas where we've chosen to compete. The company's sights are now set on additional growth in several specific world markets," including the People's Republic of China, where '92 sales were more than $50 million, and South America, another "promising market."
 Hirsig stressed that, "Increasingly, employees are providing the basis for a wealth of progress - new product developments, faster responsiveness to customers, products tailored to new market needs -- progress that is sharpening our focus on our customers.
 "In the future, we'll be asking our people to work even more closely with customers, developing technical partnerships that will help us anticipate their needs, enabling us to apply our technical know-how to produce new products and services to meet those needs."
 Hirsig emphasized that employees at all ARCO Chemical facilities are dedicating themselves to the company's continuing program of Manufacturing Excellence, an initiative that emphasizes environmental protection. Hirsig noted that in 1992, cumulative reductions in hydrocarbon emissions reached nearly 50 percent and reductions in waste generation approached 35 percent compared to our 1986 baseline.
 "Excellence in manufacturing is a basic premise for any chemical manufacturer," Hirsig said. "But we're going beyond the basics to further ensure the safety, efficiency, and reliability of our operations."
 /delval/
 -0- 5/13/93
 /CONTACT: Gerald T. Davis, Public Affairs, 215-359-3198, or Marcia H. Gesser, Investor Relations, 215-359-3382, both of ARCO Chemical/
 (RCM)


CO: ARCO Chemical Company ST: Pennsylvania IN: CHM SU:

MK -- PH021 -- 8088 05/13/93 12:08 EDT
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Publication:PR Newswire
Date:May 13, 1993
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