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Economy

December 22, 2008

Hexion, Huntsman Drop Merger Deal

With a $1 billion settlement, the Huntsman takeover saga ends.

Jobs Ax Hits Specialties Sector

A downturn in industrial markets fuels a wave of downsizing.

Bristol-Myers, Pfizer Set More Job Cuts ...

Bristol-Myers Squibb will shed about 3,700 jobs, 10% of its workforce, by 2010.

... As Biotech Firms Scale Back Jobs

Jazz Pharmaceuticals, in Palo Alto, Calif., will reduce its workforce by 24%, eliminating 71 jobs by year's end.

Westlake, Lyondell Idle Ethylene Plants

Westlake Chemical is temporarily idling an ethylene plant that represents about half of its 2.5 billion lb per year of ethylene capacity...

European Companies Take Long Holiday

Joining the list of companies that have announced longer than usual end-of-the-year shutdowns are Germany's Lanxess and Merck KGaA...

December 15, 2008

Chemical Firms Slash Employment

Moves come in response to precipitous drop in demand.

Schools Face Cuts

Economic downturn compels academic institutions to reduce budgets.

European Economy

German chemical industry braces for a slowdown.

Dow's Cost-Cutting Plan Leads To Plant Closures

As part of a cost-cutting move meant to shed 5,000 jobs and save $700 million annually...

Symyx Reorganization Cuts Workforce 15%

Symyx Technologies, a supplier of electronic laboratory notebooks and other research tools, has launched...

December 8, 2008

Tough Times Ahead

Global recession will dramatically slow chemical output.

Arkema Is Cutting Output At Two Sites

Arkema plans to shut down money-losing vinyl copolymers and aluminum chloride production...

Economic Woes Hit Biotech Firms

South San Francisco-based Titan Pharmaceuticals is cutting 40% of its workforce to save cash.

December 1, 2008

More Chemical Plants Are Closing

Shrinking economy leads to new layoffs and reductions in capacity.

AstraZeneca, GSK Will Close Plants In Europe

AstraZeneca plans to close manufacturing sites in Porriño, Spain; Destelbergen, Belgium; and Umeå, Sweden...

November 24, 2008

M&A Jumps in Third Quarter

Third-quarter merger and acquisition activity in the chemical industry...

Auto Woes Hit Chemical Makers

Car production plummets, and chemical demand follows.

November 17, 2008

Mitsubishi Rayon Will Buy Lucite

Deal will launch Japanese firm to top spot in acrylics.

Two Big Biotech Firms Cut Jobs

Amylin Pharmaceuticals is slashing 25% of its workforce, or 340 employees, as it attempts to turn a profit in 2009.

Chemical Firms Hit By Economy

Agriculture businesses help some companies, but demand declines elsewhere and crimps earnings.

Pharma Struggles

Third-quarter results reflect challenges and cutbacks at drug companies.

Better Results For Biotech Firms

Companies see across-the-board growth in their biopharmaceutical portfolios.

November 10, 2008

Economic Crunch Hits Europeans

Earnings start to drop at major chemical companies.

Chemical Profits Fade In Japan

Major Japanese firms were barely profitable in their first half.

November 3, 2008

Merck Slashes Jobs, Closes Research Sites

Merck & Co. said late last month that it will cut its workforce by about 12%, eliminating approximately 7,200 positions...

October 27, 2008

DSM Funds Biofuels R&D, Cuts Jobs

DSM will fund the majority of a $33 million program to develop second-generation biofuels from nonfood raw materials.

Dow AgroSciences Expands Workforce

Dow AgroSciences says that it has created 350 new positions this year in the research, development, and commercialization...