European Chemical Profits Rise on High Volumes, Selling Prices

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. Total’s net profits from its chemicals business jumped 59%, to €256 million ($350 million) on sales up 15%, to €4.5 billion. Earnings at Total’s base chemicals...

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