21 February 2006 17:49 [Source: ICIS news]
HOUSTON (ICIS news)--Chemical unit maintenance shutdowns during the first quarter are helping Dow Chemical's financial position for 2006, chief executive Andrew Liveris said on Tuesday.
Liveris said five maintenance shutdowns this quarter have helped Dow's supply/demand picture. He spoke at the Morgan Stanley Basic Materials Conference.
Dow has shut down a light hydrocarbon cracker at its Freeport, Texas complex for maintenance, said Dow spokesperson Terri McNeill. Other Dow shutdowns during the quarter are in Tarragona, Spain; Terneuzen, The Netherlands; and joint ventures in Kuwait and Malaysia.
“We continue to see demand as strong and supply limited,” Liveris said. “It will be lumpy.”
Liveris told investors that the company’s strong financial position and geographic balance puts it in a position to handle volatile feedstock and energy costs. “Dow believes 2006 will be better than 2005 and we believe 2007 will be a good and strong year,” he said.
Record earnings and sales and a reduced debt-to-capital ratio of 29% in 2005 has put the Midland, Michigan-based chemical giant in a position to take advantage of growth opportunities, he said. The company will expand its investments in emerging markets, including ?xml:namespace>
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