Europe top stories: weekly summary
ICIS Editorial
08-Oct-2018
LONDON (ICIS)–Here are some of the top stories from ICIS Europe for the week ended 5 October.
Eurozone manufacturing
hits two-year low as confidence plummets on
trade war
Manufacturing sector growth in the eurozone was
at its slowest rate in two years in September
as global trade concerns push confidence down
to a near three-year low, according to IHS
Markit.
AkzoNobel shifts to
pure-play stance following specialties
sale
AkzoNobel has completed its transition to a
pure-play paints and coatings company following
the completion of the €10.1bn divestment of its
specialty chemicals division to private equity
firm the Carlyle Group and sovereign investor
GIC.
European soda ash
fundamentals could shift as Kazan’s plant fully
ramps up
The fifth and final line of the Kazan Soda
Elektrik soda ash plant in Turkey has ramped-up
after over half a year of delays.
SABIC
completes $2bn bond issuance after Clariant’s
stake acquisition
SABIC has completed the issuance of $2bn worth
of international bonds, the Saudi
petrochemicals major said after it became the
owner of 24.99% of Switzerland’s Clariant.
Stronger NWE and US
prices drive monthly IPEX higher
Here are the September IPEX values and details
of the major commodity petrochemical and
polymer contract and average spot price
movements for the month.
Borealis aims to
‘recalibrate’ fertilizers strategy, no plans
for divestment – exec
Borealis is aiming to “recalibrate the
strategy” at its struggling fertilizers
operations after separating the division into a
different legal entity, an executive at the
Austrian polymers and fertilizers major said.
India
unable to import Iranian urea because of US
sanctions – MMTC
MMTC Limited will not buy urea from Iran in its
import tender closing on 5 October because of
US sanctions, the Indian state-run fertilizers
major said.
Petchems set to make up
half of global oil demand growth to 2050 –
IEA
The petrochemicals sector is expected to become
an increasingly dominant force in the crude oil
industry as it will represent nearly half of
global crude oil demand growth to 2050,
according to the International Energy Agency.
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