05 December 2008 11:28 [Source: ICIS news]
SCOTTSDALE, Arizona (ICIS news)--Chemical companies should pursue recession-proof businesses to stave off the economic downturn and a “slow and difficult recovery,” said an economist with the Institute for Trend Research late on Thursday.
"Green is a business opportunity," he said.The utilities and alcohol sectors and green technology are areas that should be considered, said ITR economist Alan Beaulieu at the 37th annual meeting of the National Association of Chemical Distributors (NACD).
Weakness was seen across all chemical products as demand slows, he said.
The possibility of some businesses closing was high before the economic climate warmed up in 2010, he said, as an improvement in industrial production was only possible late next year.
Oil prices may recover next year, with pressure coming from countries such as ?xml:namespace>
The NACD annual meeting ends on Friday.
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