Petrochemical companies face major test
THE CHEMICALS INDUSTRY faces a difficult period with the combined strain of plunging demand and frozen credit markets taking their toll as the global economy continues to struggle. The worlds third-largest petrochemical company, LyondellBasell, recently filed for bankruptcy, while many other chemical companies have closed factories, reduced their workforces and withdrawn from deals so they can stay afloat.
p>THE CHEMICALS INDUSTRY faces a difficult period with the combined strain of plunging demand and frozen credit markets taking their toll as the global economy continues to struggle. The worlds third-largest petrochemical company, LyondellBasell, recently filed for bankruptcy, while many other chemical companies have closed factories, reduced their workforces and withdrawn from deals so they can stay afloat.
