The Texas chemical industry is facing hard times right now.  The example of the most hard hit company would be LyondellBasell, which filed for bankruptcy protection earlier in January. 

The driving force in the decline in the industry is the lack of demand.  The lack of demand has come as a result of the economic recession that has occured within the last few months.   The companies are not making the profits they once were,  and several companies could face bankruptcy or major restructuring in the next few months or years.  

Chemical companies employee over 75,000 people in Texas, with a majority of those workers living in or around the Houston area.  

If you are facing bankruptcy or foreclosure, contact the Galveston bankruptcy attorneys of Gipson, Norman & Root at 800-291-0898.