Europe top stories - weekly summary

09 July 2012 09:00  [Source: ICIS news]

LONDON (ICIS)--Here are some of the top stories from ICIS Europe for the week ended 6 July 2012.

Brenntag cuts staff in Europe to prepare for weaker economy
German chemical distributor Brenntag has cut 4% of its European staff in an attempt to prepare the company for challenging macro-economic conditions in the region, its CFO said on Friday.

Europe July PE, PP react to stronger crude and naphtha
European polyolefins demand is increasing in July as crude oil and naphtha prices soar, and polyethylene (PE) and polypropylene (PP) buyers believe that prices have reached the bottom of the current cycle, market sources said on Thursday.

BASF to build butadiene extraction plant at Antwerp, Belgium
BASF plans to build a 155,000 tonne/year butadiene extraction plant at its site in Antwerp, Belgium, which is expected to start operations in 2014, the German chemical major said on Wednesday.

Europe July styrene barge contract agreed at €1,232/t, down €115/t
The European styrene barge contract for July has been agreed at €1,232/tonne ($1,559/tonne), down €115/tonne from the previous month, sources confirmed on Tuesday.

Bank downgrades AkzoNobel on weakening sales volumes
JP Morgan Cazenove has downgraded Netherlands-based paints and coatings producer AkzoNobel to its “underweight” rating, from “neutral”, on weakening sales volumes, the investment bank said on Monday.

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By: Staff Reporter
+44 20 8652 3214

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