Europe’s plastic industry is at a critical turning point. Profitability is falling as the recession bites. But it cannot just cut back and hunker down. Instead, it has to take a lead in building major new recycling capacity as today’s markets and feedstocks start to disappear.
Chemicals and the Economy
European auto sales increase versus 2008
Any improvement in the troubled auto sector is extremely good news for the chemical industry, after the battering of the past few months. Thus the blog welcomes news, as the chart shows, that European sales increased 2.4% in June, the first rise for over a year. Government support for scrapping older cars has led the […]
European auto sales fall 8%
Europe is the world’s largest auto manufacturer, accounting for 32% of the global market. So news that European auto sales fell 8.3% last month, compared to 2007, is worrying. Italy’s sales fell 20%, and were today described as ‘disastrous’ by CEO Sergio Marchionne, who announced that 4 of their 6 plants will shut for 3 […]
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