14 December 2011 05:57 [Source: ICIS news]
DUBAI (ICIS)--The sixth annual GPCA (Gulf Petrochemicals & Chemicals Association) Forum opened on Wednesday with calls for the industry to help control human-induced climate change by developing more environmentally friendly chemicals.
The industry must produce products that enable the entire production chain to be sustainable, said Mohammed Al-Mady, vice chairman and chief executive of SABIC.
Al-Mady is also the chairman of GPCA.
He said 2011 was a profitable year for the petrochemical industry despite some softness in the fourth quarter.
The outlook for 2012 pointed to another profitable year, Al-Mady told delegates in Dubai.
The official predicted a possible slowdown in Europe as a result of the financial crisis in the region, but added that the US is likely to avoid a double-dip recession.
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