Pharma Industry
Industry: Email Alert RSS FeedEuropean specialty players revamp and replace their strategy. (Focus 2003: Specialty Chemicals/ChemSpec Europe Preview).
Chemical Market Reporter, April, 2003 by Milmo, Sean
Threatened with commoditization, companies take drastic measures, not only cutting costs and divesting operations, but also seeking an entirely different, closer relationship with their customers. Under pressure from sluggish demand, difficulty raising prices in the face of fast rising raw material costs and increased commoditization in some sectors, European specialty chemical producers are reshaping their strategy.
Many are accelerating cost-cuffing programs, instituting new productivity initiatives and divesting low-margin activities. Others, however, believe that major changes are needed that could in the long term radically change their businesses. These operators say that such measures may not be sufficient to provide their businesses with the...
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