Tag Archives | chemicals

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Nord Stream pipeline will benefit chemical producers

Construction of the E8.8bn Nord Stream gas pipeline from Russia into Germany officially began last week. This should be good news for European chemical manufacturers who rely on natural gas as a feedstock, or for those planning to introduce more flexible feedstocks to their manufacturing capability. The gas, available from 2011/12, should bring more choice […]

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Slow recovery in foreign direct investment for Eastern Europe

Economies in Central and Eastern Europe grew strongly in the 2000′s, fueled by cheap credit from Western banks who saw the region as a superb investment opportunity. As my recent editor’s blog entry suggests, newly-found political stability and high levels of economic growth made investing there seem like an obvious choice. Vast sums of money […]

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Power slips from Ukraine’s Tymoshenko

Yulia Tymoshenko, Ukraine’s prime minister, has failed to secure a majority in the country’s 450-strong parliament. This moves her newly-elected rival, president Viktor Yanukovych, a step closer to removing her from office. Yanukovych, who beat Tymoshenko in February 7 elections, is trying to consolidate his position. The country has suffered from a lack of strong […]

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Competition concerns for Univar’s acquisition of Quaron

The news that global chemical distributor, Univar, is to purchase Dutch-owned Quaron could raise some eyebrows amongst competition authorities in France, according to Marc Fermont of consultancy Districonsult. He says the merger would leave only two major chemical distributors in France, both with revenues above E500m. As he says, “the French market for industrial chemicals could be moving from […]

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Brenntag IPO draws near?

Here at ICIS we’ve been tracking progress towards an initial public offering for several months. I suspect this may be getting closer, or if not an IPO then some sort of M&A (merger and acquisition) activity. This is because the company has become exceptionally and unusually quiet in recent weeks. Brenntag is usually extremely keen to get […]

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Spolchemie rescue plan presentation

Spolchemie’s general manager, Francois Vleugels, has sent me a Powerpoint presentation detailing his strategy for rescuing the ailing Czech epoxy resin producer. He is presenting this at the World Refining Association’s Global Petrochemicals conference in Vienna this week. As you’ll see, Vleugels’ plan involves steep cost cuts, process optimisation, and major moves to improve the company’s image […]

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Greece economic crisis a worry for chemical producers

The news that the International Monetary Fund is standing by to bail out Greece must be a worry to chemical producers regionally. So far we’ve had no reports of a negative impact on demand for chemicals at ICIS. But financial instability is bound to affect the buying habits of consumers and a negative impact on […]

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IMF bailout good news for Ukraine

Ukraine is to receive a $3.4bn International Monetary Fund payment in November. This will help shore up the country’s ailing finances, including a huge budget deficit. Ukraine has been hit hard by collapsing demand for export such as steel. Its chemical sector has also suffered as domestic and regional sales collapsed in the wake of […]

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Chemical industry poised for recovery in Central and Eastern Europe

Survival is the name of the game for Central and East Europe‚Äôs (CEE) chemical industry over the next few years. Huge challenges remain:- Poor domestic and regional economic growth- Lack of state intervention to shore up economic recovery: many countries have no resources to do so as they are nearly bankrupt- No state money to […]

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Wanhua gives up BorsodChem takeover battle

Hungary’s BorsodChem has reached an agreement with China’s Wanhua, allowing it a future as a minority shareholder but not to control the company. According to portfolio.hu, it seems Wanhua has given up its intention to squeeze out owner Permira and become a majority owner of the Hungarian company.“After three days of intensive negotiations, the management […]

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