Europe top stories - weekly summary

12 March 2012 09:00  [Source: ICIS news]

LONDON (ICIS)--Here are some of the top stories from ICIS Europe for the week ended 11 March 2012.

Ethylene supply-demand balance to improve moving through March
Supply and demand in the European ethylene market is already starting to re-balance following the resumption of production at one cracker after an unplanned outage, improved rates at other crackers and a healthy level of imports from the Middle East, market sources said on Friday.

Arkema’s 2012 growth to be driven by development in Asia – CEO
Arkema’s growth in 2012 will be driven by its development in Asia, as Europe is expected to remain a “challenging” region, CEO and chairman Thierry Le Henaff said on Thursday.

Bernstein Research predicts 2012 fall in BASF earnings
Bernstein Research expects BASF’s earnings to fall in 2012, on the basis that recent fixed cost inflation trends will continue and on the company’s plans to grow from highly taxed Libyan oil production, the global analysts said on Wednesday.

Germany’s Evonik to sell colourants business to US investment firm
Evonik has entered into an agreement to sell its global colourants business to US private investment firm Arsenal Capital Partners, the German specialty chemicals producer said on Tuesday.

Europe March OX fully confirmed at record high
The European March orthoxylene (OX) contract has risen by €70/tonne from the previous month and settled at a record high of €1,130/tonne ($1,487/tonne), two producers and two consumers confirmed on Monday.

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By: Staff Reporter
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