(canplastics) -- Despite the odd
bump, some of the major global chemical suppliers are reporting promising starts
LyondellBasell’s net income for the first quarter dropped
9.2% year on year to USD599 million on weak European and Asian sales of
olefins and polymers (O&P), the company said in a press release.
O&P earnings in the Americas were up 23.6% year on year at USD598
million and up strongly on the USD407 million reported for the 2011 fourth
BASF is also reporting a solid start to 2012. According to the
company, first quarter 2012 sales rose 6% to 20.6 billion euro, but income
before special items decreased to 2.5 billion euro, down 7% compared to the
same period in 2011.
In the company’s plastics segment, sales were
slightly reduced compared with the first quarter of 2011. “Higher prices and
currency effects made a positive contribution to sales development; sales
volumes were weaker. Lower margins led to a significant decline in earnings,”
the Germany-based company said in a press release.