Chemical Industry Weekly News Round-Up, Oct. 28
3:08 PM MDT | October 28, 2011 | By VINCENT VALK
This Week on CW:
Third-quarter earnings at chemical firms were mostly strong despite the weak economy. U.S. basic and diversified firms generally experienced rising sales and profits, though some cut earnings forecasts.
In Europe, third-quarter sales rose, but higher revenues squeezed margins. Most companies acknowledged that they were experiencing some slowdown due to the soft economy.
BASF, for its part, beat estimates and still sees full-year growth in global chemicals production. The company’s revenues grew in all regions. LyondellBasell, which reported this morning, saw earnings soar 92% year-on-year, due to strength in North American olefins.
Outside earnings, CPhI 2011 was held this week in Frankfurt. Pharma ingredient makers were generally optimistic, but a bit apprehensive about coming changes in the industry as a number of products come off-patent.
Meanwhile, China is imposing antidumping duties on caprolactam from the U.S. and E.U. for five years.
Around the Web:
Recalibration means that already-flimsy economic models, widely used by Wall Street banks and big companies, are frequently wrong, in Scientific American.
A blogger says that “the IPO window has closed” for biotech, in BiotechNow.
An article in Physics Today uses climate change as an example of the difficulty in explaining scientific concepts clearly and concisely.
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