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REXENE/UBE JOINT VENTURE BEGINS PRODUCTION

 REXENE/UBE JOINT VENTURE BEGINS PRODUCTION
 DALLAS, Sept. 3 /PRNewswire/ -- Rexene Corporation (NYSE: RXN) and


Ube Industries, Ltd. announced today that commercial production of Amorphous Polyalphaolefin (APAO) has begun at a 20,000 ton-capacity production facility in Sakai, Japan. Rexene and Ube announced the formation of the 50/50 joint venture company, Ube Rexene Corporation, in 1990 to manufacture and market APAO in the Far East and Pacific Rim using Rexene's proprietary REXTAC(R) APAO technology. Ube Rexene Corporation, located in Tokyo, Japan will market the products as UBETAC(R) APAO.
 REXTAC APAO is a unique patented polymer that has been commercially developed by Rexene in the United States since 1986. It is principally sold as a component into the adhesives and sealants markets where it is used in hot melt applications for non-wovens, packaging, pressure sensitive and assembly applications. Additional REXTAC APAO applications include its use as a modifier of asphalt for roofing and paving, as a filling and flooding compound for wire and cable products and as a modifier for plastics and elastomers.
 Andrew J. Smith, chief executive officer for Rexene said, "This joint venture continues a 28-year relationship with Ube Industries that is one of several Rexene relationships with leading global companies based on proprietary Rexene technology. We look for additional partnering opportunities to spur growth in coming years."
 Brian Pellon, business director of specialty products for Rexene said, "Based on the success of REXTAC APAO in the United States, we anticipate growing demand for the product in the Far East and Pacific Rim. The Rexene/Ube joint venture adds needed production capacity that will allow both companies to take advantage of these global opportunities."
 Rexene Corporation, through its wholly owned operating subsidiary, Rexene Products Company, manufactures thermoplastic resins and petrochemical products including polyethylene and polypropylene resins, styrene and plastic film. Rexene is headquartered in Dallas with manufacturing facilities in Texas, Wisconsin, Utah, Delaware and Georgia.
 Ube Industries, Ltd., is a diversified company headquartered in Tokyo and with numerous industrial facilities in Japan and around the world. Ube is comprised of seven operating divisions, including plastics and rubbers, chemicals, cement, machinery, plant engineering and coal. Its plastics and rubbers division manufactures polyethylene, polypropylene and nylon resins, polybutadiene rubber, polyamide film and related processed products.
 -0- 9/3/92
 /CONTACT: Neil J. Devroy, 214-450-9101, or Brian J. Pellon, 214-450-9023, both of Rexene Corp./
 (RXN) CO: Rexene Corporation; Ube Industries, Ltd. ST: Texas IN: CHM SU: JVN


SM -- NY033 -- 6301 09/03/92 10:02 EDT
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Publication:PR Newswire
Date:Sep 3, 1992
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