How desperate was your year? (The CEO's View).(2001, tough year for chemical industry)(Statistical Data Included)

Chemical Market Reporter, March, 2002

That the year 2001 was the worst the chemical industry has seen is a message clearly voiced by many ceos across the board, but what is also evident is that ceos feel they are well-placed to take advantage of the upturn which analysts predict will come in the second half of 2002. Jim Gallogly, ceo of Chevron Phillips CPChem undetered THE YEAR 2001 has been called the worst year in US chemical industry history.

The industry experienced high feedstock and energy costs, overcapacity in most business segments, and a strong dollar that negatively impacted exports. Most experts predict a modest recovery toward the end of 2002, but much depends on the US economy and whether less efficient capacity is idled across the industry. Many experts predict...

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