Chemical Industry Weekly News Round-Up, Dec. 9
3:30 PM MST | December 9, 2011 | By VINCENT VALK
Output growth in German chemical industry is expected to slow to 1% during 2012, according to industry association VCI (Frankfurt). The slowdown was widely predicated and related to the EU debt crisis.
DuPont cut its fourth-quarter earnings outlook to a range of 29-37 cts/share on lower demand and inventory destocking by customers. Destocking has been influenced by weakening demand in consumer electronics, and continued softness in construction. Meanwhile, 3M affirmed its full-year 2011 guidance and said it expects earnings of $6.25-$6.50/share in 2012, which would represent a 6% year-on-year increase.
The U.S. FDA will decide by next year whether to restrict bisephenol A (BPA) in food packaging. The decision came in a settlment with the National Resources Defense Council (NRDC; Washington), an environmental group. ACC called the settlement a “non-event.”
Dow Chemical is planning to expand cellulosic production capacity in Asia. The company produces several cellulose ether grades, and the expansion will focus on construction grade applications.
Around the Web:
A Bloomberg poll found that investors have growing confidence in the U.S. economy, in Business Week.
EU leaders have agreed on a treaty deal to, hopefully, save the euro, though a blogger in Reuters is skeptical.
A U.S. federal panel says that the government should pay more attention to concern about the dangers of hydraulic fracturing, in The Wall Street Journal.