Outlook is cautious for chemical sector

Article Abstract:

Analysts have turned cautious in their recommendations to investors about the chemicals sector. This is in light of profit warnings announced by several chemical companies such as US giant DuPont and UK-based Albright & Wilson. In the UK, chemical manufacturers are pointing to problems associated with sterling's strength as well as exposure to or competition from Southeast Asia as the reasons behind the downturn in the region. For instance, Albright & Wilson, a supplier of chemicals used in detergents, soaps, foods and metals, cited the strength of sterling and the US dollar against Asian currencies and a slowdown in manufacturing activity in developing countries.

Comment:

World: Analysts have turned cautious in their recommendations to investors about the chemicals sector

Market information - general, World

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Chief of Matra BAe envisions single European missiles group

Article Abstract:

Matra BAe Dynamics CEO Fabrice Bregier is envisioning a joint venture creating a pan-European missiles group to compete with US companies. The vision fits the ongoing consolidation in the industry, but some industry leaders say missile assets may not be readily handed over to a Anglo-French joint venture. Upon the conclusion of the privatization of Aerospatiale and its merger with Matra Hautes Technologies, Bregier expects the firm to start with the merger of Matra BAe and Aerospatiale SA. Bregier believes the consolidation creates a solid basis for a world-class alternative and a strong rival of offering form US companies.

Comment:

Company CEO Fabrice Bregier is envisioning a joint venture creating a pan-European missiles group to compete with US companies

United Kingdom, Strategy & planning, Guided Missile and Space Vehicle Manufacturing, Missiles & Spacecraft, Missiles, Spacecraft, Matra BAe Dynamics

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BASF doesn't see stake in Russia move

Article Abstract:

Chemical company BASF AG chairman Juergen Strube announced on Wednesday that the company would be expanding its alliance with Russian partner RAO Gazrprom, but emphasized that this does not mean it will increase its stake in the Russian company. The new agreement calls for BASF's subsidiary Wintershall AG to add to its joint projects with Gazprom, giving the company access to one-third of the world's confirmed natural gas deposits. The companies have already started working on three projects worth billions of marks.

Joint ventures, Gas Utilities, Crude Petroleum and Natural Gas Extraction, Natural Gas Distribution, Crude Petroleum & Natural Gas, Parent-to-subsidiary activities, Former Soviet Union, Management, Petroleum industry, BASF AG, Natural gas, Russia, Petroleum, Gas industry, Chemical industry, Natural resources, OAO Gazprom, Wintershall AG

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