07 October 2013 17:47 [Source: ICIS news]
BERLIN (ICIS)--Austrian Borealis’ Base Chemicals business is expecting improved margins in 2014, the segment’s executive vice president, Markku Korvenranta, said on Monday.
Korvenranta was speaking on the sidelines of the 47th annual European Petrochemical Association (EPCA) meeting.
“For this year things are going to plan, not better, not worse, we are looking at a slight improvement next year, if global and European growth doesn’t disappoint massively then [the base chemicals segment’s] margins should be better than last year,” he said.
“We have ourselves some major turnarounds [at the beginning in 2014]. We have one major turnaround in Belgium [Borealis’ propane dehydrogenation plant in Tallo, Antwerp] that affects the first quarter of next year but other than that it should be a good year from that standpoint.
“We are seeing early signs of growth creeping into Europe. It is not really visible fully but there are early indications that maybe things are getting better,” he added.
The EPCA meeting runs from 5-9 October.
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