Petrochemical marketer Plaza Group refines the definition of success

| July 12, 2019

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Randy Velarde, the decidedly low-key owner and president of Plaza Group, isn’t prone to hyperbole, so his explanation of the Houston-based petrochemicals-marketing firm’s 1994 founding is revealing. While serving as an executive at Texaco, Velarde learned that the company planned to sell most of its chemicals business to Huntsman Corp., and he approached the refiner about taking over the sales and marketing of petrochemical products from the handful of refineries whose assets weren’t included in the Huntsman sale. After two years of serving as an agent for Texaco, Velarde reached an exclusive distribution agreement with Texaco for those refineries, providing a springboard for continued growth 25 years later. “For two years, we acted as an agent for Texaco. It was their accounts receivable, and we took it to market on their behalf. After two years, we converted that into an exclusive distribution agreement,” said Velarde. “It wasn’t an opportunity of a lifetime. It was an opportunity of 10 lifetimes.”

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AIChE – American Institute of Chemical Engineers – is the world’s leading organization for chemical engineering professionals, with nearly 55,000 members from more than 100 countries. AIChE has the breadth of resources and expertise you need whether you are in core process industries or emerging areas, such as nanobiotechnology.

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CHEMICAL MANAGEMENT

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AIChE - American Institute of Chemical Engineers

AIChE – American Institute of Chemical Engineers – is the world’s leading organization for chemical engineering professionals, with nearly 55,000 members from more than 100 countries. AIChE has the breadth of resources and expertise you need whether you are in core process industries or emerging areas, such as nanobiotechnology.

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