TITLE

Petrochemicals Overview

PUB. DATE
January 2003
SOURCE
U.S. Industry Quarterly Review: Chemicals;2003 1st Quarter, p23
SOURCE TYPE
Industry Profile
DOC. TYPE
Industry Overview
ABSTRACT
This article presents information on petrochemical industries in the U.S. It is informed that following a dismal 2001, profits for the petrochemical industry-- which had improved through most of 2002 due to cost cutting, rising volume, and higher prices-- tumbled in the fourth quarter, with several key players posting heavy losses, including Dow Chemical, Lyondell, Nova, and Millennium. This has prompted the industry to announce a new wave of layoffs and plant shutdowns. It is further informed that petrochemical producers have slashed their capital expenditures in the past two years due to poor profits, oversupply conditions, and business uncertainty.
ACCESSION #
14620649

 

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