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Chemical Week Magazine :: Business & Finance :: Europe/Mideast
Higher Demand Lifts Profits; Producers Warn on Second Half
8:21 AM MDT | August 20, 2010 | Natasha Alperowicz And Kerri Walsh
Late-reporting European chemical companies posted higher second-quarter profits and sales mainly because of improved demand. Companies are, however, cautious about the rest of this year because growth is expected to slow. Borealis reported a near tripling in net profits on sales 40% higher but CEO Mark Garrett expects the second half of the year to remain volatile. Speaking to CW recently, Garrett said that polyolefin margins are generally improving. Feedstock prices have fallen from a peak in April and polyolefin market prices continue to increase. Borealisâ€™s...
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