BASF CEO: More consolidation coming

"The chemical industry is still highly fragmented," said Juergen Hambrecht, CEO of German chemical giant BASF in a recent interview. According to a Reuters report, Hambrecht bases that forecast on the fact that the world's 10 biggest chemical companies have a combined market share of less than 20%, indicating consolidation will continue.

Eastman CFO: PET biz at unacceptable levels

The CFO of Eastman Chemical said the company's PET (polyethylene terephthalate) polymer business has been "well below acceptable levels." Richard Lorraine said Eastman's PET segment, which includes products used in the beverage and food packing industry, remains an area of growth in the U.S., although the company has been divesting its assets outside the country.

Sinopec, DuPont form EVA JV in China

China's top refiner and petrochemical producer Sinopec said it has formed a joint venture with DuPont to produce ethyl vinyl acetate (EVA).

RTI forms strategic business units

Resin Technology Inc. now has three strategic business units: Polyethyene, engineering resins and PET.