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Chemical Week
- Hovione to Buy Irish Pharma Ingredients Site from Pfizer
Privately owned pharmaceutical ingredients manufacturer Hovione (Loures, Portugal) says it has agreed to buy Pfizer’s multipurpose active pharma ingredients (API) plant at Loughbeg... - Sabic Innovative Plastics to Cut 10% of Workforce
Sabic Innovative Plastics says it will eliminate nearly 10% of the company’s global workforce due to the current economic downturn. Approximately 1,000 of Sabic-IP’s 10,500 employees... - Praxair Reduces Earnings Forecast, Will Cut 6% of Workforce
Volumes in November and December are expected to be down about 10%, and 2009 base business volumes may be down about 5% over 2008 levels, the company says.... - Dow Closures Will Include Chlor-Alkali, Styrenics, and Rubber
Dow says engineering costs related to a planned joint venture petrochemical complex in Oman will be written down, and that it will sell its automotive protection and dampening business in Europe, a maker of acoustical foams.... - Rhodia Downgrades Full-Year Earnings Guidance
Conditions have changed "over the last few weeks," CEO says.... - Sabic Slashing Production in Europe
Sabic Europe is operating polymer plants at sharply reduced rates because of a lack of demand, according to company officials.... - DuPont Cutting 2,500 Jobs; Sees Fourth Quarter Loss
The company will also reduce 4,000 contractor positions by year-end 2008 as part of a $500-million restructuring.... - GPCA 2008: Major Challenges Lie Ahead
Chemical makers are being challenged by many external factors, “more so than anytime I can recall,” Mohamed H. Al-Mady, chairman of the Gulf Petrochemicals and Chemicals Association (GPCA) and CEO of Sabic told attendees of the third annual GPCA Forum in Dubai.... - GPCA 2008: Shell Calls for Coordinated Policies on CO2 Capture
The global chemical industry has a “central and expanding” role to play in meeting the world’s long-term energy challenges of surging demand, constrained supplies, and added stress on the environment, says Ben van Beurden, executive v.p. at Shell Chemicals.... - GPCA 2008: Financial Crisis Dents Chemicals Profitability and Valuations
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...