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Some major chemical suppliers reported good start in 2012

May 08/2012

(canplastics) -- Despite the odd bump, some of the major global chemical suppliers are reporting promising starts to 2012.

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.

But 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 quarter.

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.
Author:Anna Larionova
Tags:BASF, LyondellBasell.
Category:General News
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