27 April 2012 17:45 [Source: ICIS news]
HOUSTON (ICIS)--Eastman Chemical CEO Jim Rogers expects to see only slow global economic growth in 2012, but trends in the US economy will stay solid, he said on Friday.
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Meanwhile, Asia – and particularly
Eastman expects less volatility in its raw material and energy costs for the rest of 2012, he said. Also, Eastman will continue to benefit from olefins produced at a previously idled cracking unit that was restarted in late 2010, he said.
That deal is on track for completion by mid-2012,
“The initial response to [the launch] has been terrific,” he said.
The perennial wood business is less capital intensive but has relatively high operating margins, compared with many of Eastman’s other businesses, he added.
Eastman expects full-year 2012 earnings per share at around $5.30 (€4.03), reflecting a 10% year-on-year increase from 2011, the CEO said. In 2013, Eastman’s earnings per share should exceed $6, he added.
($1 = €0.76)
Paul Hodges studies key influences shaping the chemical industry in his Chemicals and the Economy Blog
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