Austria’s chemical industry is optimistic about 2011 outlook

06 May 2011 22:13  [Source: ICIS news]

LONDON (ICIS)--Austria’s chemicals producers are optimistic in their outlook for 2011 after the industry recovered last year to its pre-recession performance levels, a trade group said on Friday.

The country’s chemical industry trade group, FICO, said that 97% of the chemical firms it surveyed expect business in 2011 either to improve or to remain unchanged from 2010.

Last year, the production value of Austria’s chemical industry grew 16% year on year to €14.2bn (€20.6bn).

Exports rose 16.7% last year, driven by demand from Germany and France.

While chemical firms had been cautious about investing in 2010, FICO expects firms to increase investments this year, it said.

Employment in Austria’s chemical industry rose by 1,000 last year, to 41,700 people.

Major chemical firms with production in Austria include Borealis, OMV and Lenzing.

($1 = €0.69)

Paul Hodges studies key influencers shaping the chemical industry in Chemicals and the Economy

By: Stefan Baumgarten
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