Markets Europe General

US auto supplier files for Chapter 11 / Plant closures in North America / No impact on European operations

Agreement on concept to continue the business / Gilde to contribute financially to rescue plan

Euromap sees dark clouds on horizon for European manufacturers after record 2007 / Order downturn of “historic dimensions / Association forecasts lower sales for 2009 / Very strong global market position

Anti-dumping investigation into polyamide imports from the EU, USA and Taiwan

Cefic forecasts decline in output of 0.6% in 2008

Demand again grew faster than GDP in 2007 / Consumption 52.5m t / Germany still the biggest producer / Half of European plastics waste is recycled / PlasticsEurope report “Compelling Facts about Plastics 2007” on the EU27 plus Norway and Switzerland

“Definitive final result” shows Ciba stake at almost 95%

Financing obtained for Portuguese PTA plant / Interquisa acquisition finally falls through

Ciba stake of 94.6% nailed down / Final result this week

First German supplier insolvency averted for now / Automakers grouping criticises bank policies / Short-time working and extended leave

Europe: 1.3m t polymers for cables in 2008 / Market still dominated by PVC / PE steadily gaining ground / Big regional variations / Demand highest in Italy / Publication of AMI's latest guide

Shutdown of 630,000 t/y PTA plant in San Roque / Rising Asian imports hit profitability

“No more extrusion facilities to be closed”

Recovery not expected before 2010 / Both OEMs and suppliers are feeling the heat

Financial crisis exacerbates car makers' slump / Suppliers adopting a wait-and-see attitude / Impact could be most severe for SMEs / First victims are being identified / Eastern Europe unlikely to be OEMs' white knight

Second restructuring phase begins in flexibles division / Two thirds of European film extrusion plants to close

Acquisition of Peguform completed / Combined group sales will exceed EUR 1 bn in 2008

Slightly lower growth in 2007 / Clear gains by RTM and LFT materials / More exhibitors and visitors at the Composites Europe exhibition / Substitution of open processes

Italian manufacturer acquires Matrixx Europe

PVC most popular for external doors in Germany and Poland / Backslide in European demand for all materials

Building downturn will hit 200 jobs in the UK / Streamlining to bring EUR 6.5m annual savings

Polyamide and PA compounding in Italy to be phased out / Production will be concentrated in France and Poland

Call for aid in Europe for economical vehicles

Polyamide segment to be restructured / Further eastward relocation of production is likely

Wider European sales partnership with Resinex