Pharma Industry
Industry: Email Alert RSS FeedProtracted Industry Slowdown Sets Off Round of Restructuring.(chemical industry)(Statistical Data Included)
Chemical Market Reporter, July, 2001 by Chang, Joseph
Crompton launches new $60 million cost savings program. JUST WHEN IT appeared that companies had already streamlined their operations, cut costs to the bone and transformed their organizations into lean, efficient, well oiled machines, the dramatic slowdown in global industrial demand in 2001 has birthed another round of restructuring throughout the chemical industry.
With the upcoming release of what are going to be dismal second quarter results, more actions will be the order of the day. "It's like drawing blood from a stone," says Merrill Lynch analyst John Roberts. "No matter how much companies have cut before, they always seem to be able find more. Part of it is that costs creep in with each upcycle, but part of it is also like peeling apart the...
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