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People & Business :: Companies
GPCA 2008: Financial Crisis Dents Chemicals Profitability and Valuations
1:24 PM MST | December 4, 2008
The global financial meltdown has taken a toll on chemical valuations and profitability, according to an industry analyst. “The last couple of months have been rough,” Hassan Ahmed, managing director and global sector head/chemicals research at HSBC. “There have been cracks in profitability and valuation.” Chemical makers in HSBC’s coverage universe are down 45% on average in 2008, and an HSBC index that tracks profitability of 18 different commodity chemicals shows that industry profitability has fallen below re-investment levels in...
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