The shift comes in response to persistently high energy costs in Europe, aggravated by the fallout from Russia’s invasion of Ukraine in 2022.
Some management teams are looking at older European assets and thinking ‘we are not so sure we can compete’,” said Sebastian Bray, head of chemicals research at investment bank Berenberg, as quoted by the report.“What was the decisive factor that made companies consider an exit from their assets?
Dow announced in October last year that it would initiate a strategic review of select European assets, particularly within its Polyurethanes business.“Europe’s regulatory environment has led to increasing challenges across many sectors and value chains,” said Dow CEO and chair Jim Fitterling during the company’s third-quarter earnings call.
The story "Chemical giants weigh Europe exits amid soaring energy costs, Asian rivals" has 806 words across 27 sentences, which will take approximately 4 - 7 minutes for the average person to read.
Which news outlet covered this story?
The story "Chemical giants weigh Europe exits amid soaring energy costs, Asian rivals" was covered 13 hours ago by Business Standard, a news publisher based in India.
How trustworthy is 'Business Standard' news outlet?
Business Standard is a fully independent (privately-owned) news outlet established in 1975 that covers mostly business and finance news.
The outlet is headquartered in India and publishes an average of 280 news stories per day.
It's most recent story was published 7 hours ago.
What do people currently think of this news story?
The sentiment for this story is currently Neutral, indicating that people are not responding positively or negatively to this news.
How do I report this news for inaccuracy?
You can report an inaccurate news publication to us via our contact page. Please also include the news #ID number and the URL to this story.
