ExxonMobil to continue chemical investments despite market cyclicality and the current economic downturn, ExxonMobil's chemical unit is projecting an average of 6%/year growth until 2015. I am not surprised because, chemical products will continue to replace paper, aluminium and steel in a variety of applications.
On the other hand, BASF is experiencing a very difficult time, declining revenue and proft, with continued challenging outlook. BASF and many other chemical companies have been shutting down plants or selling businesses. BASF has also been trying to get out of a buyout clause involving BASF's ownership in the Texas chemical plant in partnership with an entity controlled by LyondellBasell Industries. Delaware judge is forcing BASF to stay with the partnership arrangement!.... Bloomberg
The bottom line is that a good company can still grow in a down economic cycle!
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