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Asia leads the Lazy-V recovery

DOW CHEMICAL CEO and Australia native Andrew Liveris coined the term Lazy-V in describing the global economic recovery on the US-based company’s fourth quarter earnings conference call. Now we’ve all heard of a V-shaped recovery, but what’s a Lazy-V? “Aussie for moderate growth,” or slow, steady progress, translates BB&T Capital Markets analyst Frank Mitsch. Looking […]

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Dubai World debacle could have ripple effect

THE NEWS that government-owned conglomerate Dubai World would seek to delay payments on its debt rocked global financial markets. Bourses plunged worldwide, led by heavy losses in European and Asian banks, which have the most exposure to Dubai World’s more than $60bn in total debt. While the situation has so far been deemed mangeable, the […]

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The time for a Latin American chemical revolution is now!

With all the world’s attention focused on Asia and its booming economic growth driven by China and India, Latin America tends to get overlooked. But that would be a big mistake, as the region is making significant strides towards becoming an industrial powerhouse. The Latin American chemical industry has taken its lumps in the global recession, […]

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After the tsunami comes a new wave

Few have been hit harder by the global financial and economic crisis than Japan. Its export-based economy heavily exposed to automotive and electronic goods came under severe pressure and challenges persist. However, this economic tsunami will put a charge into the pace of structural reform – it is already happening in Japan’s chemical industry with […]

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Top of the heap in a tumultuous year

Once again, we are pleased to present the ICIS Top 100 Chemical Companies, ranked by 2008 sales. The results, spanning the global chemical industry, reflect a strong start to the year, followed by a collapse in the third and fourth quarters, triggered by the widespread financial and economic crisis that began in the US. German major […]

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An M&A comeback in the works

It’s been a miserable year for chemical mergers and acquisitions (M&A) – the financial and economic crisis put the brakes on deal-making as financing dried up and earnings visibility disappeared. The big deals announced last year – Dow Chemical/Rohm and Haas, and BASF/Ciba – got done in 2009, but these deals represented the last throes […]

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BASF moves reflect global chemical manufacturing shift

Nowhere is the global tectonic shift in chemical manufacturing more apparent than in the largest chemical company’s latest restructuring and expansion moves. Germany’s BASF, which acquired Swiss specialty chemical giant Ciba for $5.1bn in April, laid out its massive restructuring plan last week. The bottom line – 23 out of 55 acquired production sites will be […]

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Huntsman deal value lies in the debt

At first glance, Huntsman’s $1.73bn cash and financing settlement with Credit Suisse and Deutsche Bank stemming from its busted $10.6bn planned merger with Hexion Specialty Chemicals appears underwhelming. Huntsman actually gets just $632m in cash, including $12m for the reimbursement of litigation costs. You’d think in today’s environment, where banks are public enemy number one, […]

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Looking beyond the GM bankruptcy

The bankruptcy filing of the once dominant US auto giant General Motors (GM), though widely expected, will have ripple effects across the supply chain. Businesses will be sold off and shut down, and production will shift to smaller, more fuel-efficient cars, as GM seeks to transform itself into a leaner, more cost-competitive company. The chemical industry […]

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