Classifieds | Archives | Jobs | About TGT | Contact | Subscribe
 | 
Last updated 27 minutes ago
Printer Friendly Version | TGT@Twitter | RSS Feed |
HOME LOCAL MIDEAST ASIA WORLD BUSINESS SPORT OPINION WRITERS
Solvay plans cuts to soda ash output in S.Europe
December 19, 2012
 Print    Send to Friend

BRUSSELS: Belgian chemicals and plastics group Solvay said on Tuesday it was reorganising its soda ash production, with an increase in US output to take into account of market growth in Latin America and capacity cuts in southern Europe.

Solvay said demand for soda ash in emerging markets, North America, Eastern Europe and the Middle East was satisfactory, but was challenging in western and southern Europe due to long-lasting poor demand and overcapacity.

“These contrasting macroeconomic patterns call for a regional adjustment,” the company said in a statement.

Solvay said it would increase output at its plant in Green River, Wyoming, by about 12 per cent with only limited investment to allow it to keep up with demand growth in Latin America.

In Europe, it would seek to increase the competitiveness of all its plants. In southern Europe and the Mediterranean basin, it said it would reduce output and would implement a plan by mid-2013.

This was due to lower demand and increasing competition from mining-based production in Turkey.

Solvay is the world leader in the production of soda ash, a chemical feedstock with a variety of uses, including glass manufacturing and as a water softener.

Reuters

Add this page to your favorite Social Bookmarking websites
Comments
 
Post a comment
 
Name:
Country:
City:
Email:
Comment:
 
    
    
Related Stories
German industry orders fall
BERLIN: German industrial orders fell less than forecast in May as a modest rise in foreign demand took the sting out of a decline in domestic bookings, the Economy Minis..
TUI Group’s loss narrows in second quarter
BERLIN: TUI Group, the German tour operator that merged with TUI Travel last year, said its second quarter loss narrowed as integration of the two companies is progressin..
Deutsche Telekom’s quarterly earnings rise by 11%
FRANKFURT: Deutsche Telekom beat expectations with an 11 per cent rise in quarterly earnings helped by its US operations and the weak euro. Earnings before interest, t..
Osram plans to focus on automotive division
FRANKFURT: Germany’s Osram plans to transfer its 2 billion euro ($2.5 billion) general lamps business into an independent legal structure, paving the way for a possible s..
Germany rejects writing off Greek debt as pressure builds on Athens
ATHENS: Germany bluntly rejected on Friday suggestions that Greece should be forgiven repayment of its rescue loans, while a top eurozone official said there was no decis..
 
FRONTPAGE
 
GALLERY
 
PANORAMA
 
TIME OUT
 
SPORT
 
 
Advertise | Copyright