Chemical Industry Weekly News Round-Up, Sept. 30
2:58 PM MDT | September 30, 2011 | By VINCENT VALK
This Week on CW:
Cefic has revised its forecast for EU chemicals production growth downards, to 2.5%. Third-quarter growth is expected to fall “markedly,” though temporarily, Cefic says.
Early third-quarter earnings were mixed. Mosaic’s profit rose 77%, but the company misses estimates by 10 cts/share. Meanwhile, Omnova’s adjusted income fell 40%, though the company beat estimates by 9 cts/share.
A U.S. district court has denied EPA’s motion to stop environmental groups from challenging the agency’s delay of new boiler MACT standards.
LyondellBasell has decided to close a 105,000 bbl/day refinery in Beere, France after failing to find a buyer for the facility. Workes at the plant have chosen to strike.
Around the Web:
The Economist warns that we should “be afraid” until political leaders opt to do something about the global economy.
A new paper by the Economic Policy Institute calls regulatory uncertainty a “phony explanation” for the U.S.’s job woes.