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.
(Please click on the link to read the full story).
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