Europe top stories - weekly summary

01 March 2010 09:00  [Source: ICIS news]

LONDON (ICIS news)--Here are some of the top stories from ICIS news Europe and the Middle East/Africa for the week ended 26 February 2010.

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Germany’s Bayer Q4 EBIT falls 11.2%; net profit jumps 44%
Bayer’s fourth-quarter earnings before interest and tax (EBIT) declined 11.2% year on year to €366m ($495m) as it incurred heavy special charges across its three business segments, including MaterialScience.

BASF swings to Q4 net profit, sees customer growth
BASF swung to a net profit of €455m ($615m) in the fourth quarter of 2009, compared with a loss in the same quarter in 2008, and the company said it was seeing growth in most of its customer industries.

Europe PP buyers face higher prices for March amid tight supply
Polypropylene (PP) buyers in Europe will be under heavy pressure to accept higher prices in March as product availability remains restricted.

Refinery strikes shutter over a quarter of France C3 capacity
Total’s refinery strikes have shuttered around 36% of France’s total propylene capacity, exacerbating an already tight supply and demand balance.

Merck KGaA fourth-quarter net profit swings to €56.7m
Merck KGaA’s 2009 fourth-quarter net profit swung to €56.7m ($77.7m), compared with a €279.5m net loss recorded in the same period of 2008.

Global MEG demand to grow by 6% in 2010 - executive
Global monoethylene glycol (MEG) demand is expected to grow by about 6% in 2010, with China and India leading the way, an industry executive said.

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By: Staff Reporter
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