Five Minute News Watch

22 April 2002 00:00  [Source: ICB Americas]

The EU is moving ahead with a system for recycling electrical appliances and electronic products under which OEM manufacturers will have to pay for the cost of disposal. Polymer producers, however, want to ensure that they themselves do not have to bear some of the financial burden as a result of the 'polluter pays' principle behind the project. Page 4

Sabic has ended its negotiations with ENI for the acquisition of a 51 percent shareholding in Polimeri Europa, ENI's petrochemicals operation. Page 4

Polycarbonate producers concede they are coming off a difficult year in 2001, but they expect a solid recovery, based on a strengthening global economy, the health of most of polycarbonate's end markets, and new products and technologies. Page 6

The first round of earnings from large-cap pharmaceutical companies presents results ranging from success stories to lackluster, even dismal, showings. Few companies will be able to maintain robust growth rates in both sales and earnings in 2002, and most firms will be treading water until 2003 or beyond, when pipelines mature. Page 7

Human Genome Sciences saw its first quarter revenues plummet on the expiry of technology agreements under the company's Human Gene Consortium. The expiry allows HGS to use technology for its own purposes, but it has impacted HGS financially. Page 8

The further standardization of low dielectric materials for cutting-edge semiconductor fabrication will not occur with the speed that was previously expected. For 2002, the market for low-k dielectric materials is projected to reach about $16 million. Page 9

Prices for fish oil worldwide are gaining in the wake of lower catches in the major producing countries, which have greatly reduced stocks for fish by-products, fish meal and fish oil. Premium prices over soybean oil have risen in the past three months and reached up to $600 per ton to $620 per ton in northwest Europe. Page 10

The lime market is overcapacitated following weak demand in some key industries, notably steel, which accounts for nearly 40 percent of lime consumption. Pricing has been mostly flat. Higher energy costs and shifting customer needs, however, have led at least one producer to implement a price increase scheduled for next month. Page 11

US butadiene contract prices for April settled up 2 cents, to 18 cents per pound. The increase was mostly driven by an absence of feedstocks rather than a significant increase in demand. The run-up in crude oil and naphtha costs has led refiners to crack lighter feeds, resulting in less crude C4. Page 14

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