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Chemical Week Magazine :: Business & Finance :: Europe/Mideast
European Chemical Profits Rise on High Volumes, Selling Prices
9:08 AM MST | November 12, 2010 | â€”CW Staff
European chemical companies continue to announce strong third-quarter 2010 results because of high demand, volumes, and selling prices (CW, Oct. 25/Nov. 1, p. 19). Several producers have raised their full-year 2010 earnings estimates because of strong third-quarter sales and profits growth, but they warn that raw material costs will remain high and demand growth will stabilize going into 2011. Totalâ€™s net profits from its chemicals business jumped 59%, to â‚¬256 million ($350 million) on sales up 15%, to â‚¬4.5 billion. Earnings at Totalâ€™s base chemicals...
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