Europe top stories - weekly summary

30 April 2012 09:00  [Source: ICIS news]

LONDON (ICIS)--Here are some of the top stories from ICIS Europe for the week ended 27 April 2012.

BASF maintains positive outlook for 2012 despite growth risks
BASF on Friday maintained its positive growth outlook for 2012 despite uncertainty in the global economy and a year-on-year fall in net profit in the first quarter.

Bayer MaterialScience 2012 earnings and sales to remain flat
Bayer’s MaterialScience segment expects sales and earnings to remain level with the previous year due to difficult market conditions, the Germany-based chemicals firm said on Thursday.

Upward trend for Europe polyethylene ends as demand slows
A strong upward trend in European polyethylene (PE) since the beginning of the year has ended on expectations of a lower May contract price for feedstock ethylene and a slowdown in demand as the economy remains weak and buyers destock, market sources said on Wednesday.

Solvay sets 50% profits growth and €3bn 2016 REBITDA target
Solvay is targeting profits growth of 50%, with recurring earnings before income, tax, depreciation and amortisation (REBITDA) of €3bn ($4bn) by 2016, the Belgium-based specialties producer said on Tuesday.

Europe cracker margins soar to 8-month high on weakened naphtha
European cracker margins have soared by almost 32% to their highest level since the beginning of August 2011 on the back of a drop in naphtha values, according to ICIS margin analysis on Monday.

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By: Staff Reporter
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