Europe top stories: weekly summary

ICIS Editorial

24-Oct-2016

LONDON (ICIS)–Here are some of the top stories from ICIS Europe for the week ended 23 October.

Yara share price rallies as Q3 results beat analyst expectations
A plunge in third-quarter net income for Yara failed to deter a rally in its share price on Friday, as analysts noted that the year-on-year fall in earnings for the Norway-based fertilizer producer was not as bad as the market had feared.

K Fair ’16: Automobiles steal the show
The automotive sector was in the spotlight at K Fair in Dusseldorf on Friday, with several chemical producers displaying prototypes and actual vehicles featuring plastic as a key raw material.

EU Jan-Sept commercial vehicles registrations up 13% – ACEA
The registration of commercial vehicles jumped 13% year on year between January and September, to total 1,717,237 units, the European Automobile Manufacturers Association (ACEA) said on Friday.

UAE’s Borouge at full capacity on healthy global demand – Borealis’ CEO
Healthy global demand for polyethylene (PE) and propylene (PP) is helping UAE’s Abu Dhabi petrochemical complex of Borouge to run at full capacity after all plants within it have started up, the CEO of joint-owner Austrian chemical major Borealis said on Thursday.

BASF to restart Germany crackers in coming days
BASF said on Wednesday evening that within days it will begin restarting its steam crackers at the Ludwigshafen petrochemicals hub on the Rhine river in Germany following Monday’s fatal explosion and fire.

BASF confirms FMs on naphtha, C2 and C3 offtakes, declares two more
BASF confirmed on Wednesday afternoon it has declared force majeures on offtakes of ethylene, propylene and naphtha at its Ludwigshafen site after a fire on 17 October halted logistics, according to a spokesperson for the German chemical major on Wednesday.

BASF’s Ludwigshafen fire to hit earnings, closure may last a quarter – analyst
German chemical major BASF’s full-year earnings may be reduced by as much as 3% as the closure of its two steam crackers and other plants at its hub site in Ludwigshafen has affected ethylene (C2) and propylene (C3) value chains, a chemical analyst at German investment bank Baader Bank said on Tuesday.

BASF shuts Ludwigshafen crackers, other plants after pipeline explosion
BASF is in the process of shutting down its steam crackers and other plants at the company’s Ludwigshafen site in Germany following an explosion and fire during work on a pipeline, a spokesperson for the chemicals giant said on Monday.

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