05 March 2009 12:58 [Source: ICIS news]
PARIS (ICIS news)--Arkema has delayed a hydrogen peroxide project in Leuna, Germany, and an acrylics project in Asia as a result of the global economic downturn, chief executive Thierry Le Henaff said on Thursday.
The French specialty chemicals producer has slashed its capital expenditure budget by 20% to less than €270m ($342m) in 2009, he told journalists at the company’s 2008 financial results conference.
Arkema had planned to double hydrogen peroxide capacity at Leuna to 80,000 tonnes/year, and had also been considering construction of an acrylic acid and derivatives plant - possibly in ?xml:namespace>
Le Henaff stressed that the company will continue to invest in new plants, highlighting projects for fluoro gases and PVDF in
“Some projects will go ahead as planned and some will have to wait for a while,” he remarked.
The main focus, he stressed, will be maintaining a positive cashflow in 2009.
($1 = €0.79)
Arkema’s CEO Thierry Le Henaff discusses the company’s 2008 results and the outlook for 2009-2010
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