Europe top stories: weekly summary
ICIS Editorial
31-Oct-2016
LONDON (ICIS)–Here are some of the top stories from ICIS Europe for the week ended 30 October.
Swiss Clariant prioritises US, Asia
expansions over low-growth Europe –
CFO
Clariant’s expansions in
Asia and the US seek to capitalise on both regions’ growth
while its European capacities are enough for a market which,
despite making a return as of late, is still growing at low
rates, the CFO of Swiss chemicals major Clariant said this
week.
BASF confirms restart of
Ludwigshafen steamcrackers, mourns
colleagues
German chemicals
major BASF on Thursday confirmed that its two steam crackers
at Ludwigshafen in Germany have resumed production after the
fire and explosion at the site on 17 October.
No Covestro disposals needed to fund
Bayer’s Monsanto
takeover
Flotation of additional
stakes in Covestro are not necessary for Bayer to fund the
acquisition of Monsanto, a spokesperson for the
Germany-headquartered agrochemicals and pharma producer said
on Wednesday.
Spain’s chems bonanza can only hold
with EU-wide solutions –
FEIQUE
While Spanish chemicals
are going through a bonanza as the country’s economy recovers
from the crisis started in 2008, EU-wide solutions are needed
to increase competitiveness and secure a future for the
industry in the region, the president of Spain’s chemical
trade group FEIQUE said this week.
Germany’s Covestro Q3 net profit up
62%, sales flat
Covestro’s
third-quarter net profit surged by 61.9% year on year to
€259m amid higher margins, the German producer said on
Tuesday.
European confidence falls into
negative territory in October –
CMCI
The European Chemical
Markets Confidence Index (CMCI) fell into negative
territory in October, with confidence
trending lower in all indicators as worrying global
trends offset fairly positive data in Europe.
K Fair ’16: LDPE sellers expected to
prefer Asia to Europe as prices
slip
Linear low
density polyethylene C4 (butene based) sellers are
expected to prefer Asia as a destination rather than Europe,
players said at the K 2016 Fair in Dusseldorf.
Eurozone’s economy shows ‘signs of
life’, Oct PMI at 10-month
high
Rising order books and
prices as well as strengthening employment took the
eurozone’s main two economic sectors – services and
manufacturing – flash purchasing managers’ index (PMI)
composite to a 10-month high, driven by strong growth in
Germany, analysis firm IHS Markit said on Monday.
(Please click on the link to read the full story).
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