Holding pattern

Chemical sales and earnings are struggling under the weight of weak economic growth (p. 7,8,13). Producers are also cutting fourth-quarter estimates and curbing expectations for 2013 as the hoped-for lift from economic recovery continues to be pushed out. Producers are turning to restructuring to meet targets and starting to cut capital plans in the absence of a more robust economy. Dow Chemical and DuPont announced significant restructuring efforts last week and several other producers indicated that they were preparing restructuring plans. “We recognize...

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