HP Impact: Petrochemicals outlook optimistic as global GDPs improve
The industry has withstood several major impacts that seemingly converged as the "perfect storm." Business dynamics, a soft economy, energy crisis and international events all comingled to create a tu..
The industry has withstood several major impacts that seemingly converged as the "perfect storm." Business dynamics, a soft economy, energy crisis and international events all comingled to create a turbulent, challenging economic period for petrochemical businesses. Financial performances of several major companies between 2000 to 2002 provide a grim reminder of the economic hardship experienced by the industry.
However, "better days are ahead," according to Don Bari, senior vice president of Nexant Chem Systems. Since mid-2003, the US economic outlook shows positive signs of recovery - with a forecast 4% increase in GDP in 2004. Personal consumption, fixed investment and defense expenditu
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