ADVERTISEMENT
2 /3 FREE ARTICLES LEFT THIS MONTH Remaining
Chemistry matters. Join us to get the news you need.

If you have an ACS member number, please enter it here so we can link this account to your membership. (optional)

ACS values your privacy. By submitting your information, you are gaining access to C&EN and subscribing to our weekly newsletter. We use the information you provide to make your reading experience better, and we will never sell your data to third party members.

ENJOY UNLIMITED ACCES TO C&EN

Finance

Chemical companies tighten their belts

by Alexander H. Tullo
March 27, 2020 | APPEARED IN VOLUME 98, ISSUE 12

 

Facing uncertainty due to the coronavirus pandemic, chemical companies are taking steps to conserve cash. Eastman Chemical is reducing its 2020 capital spending from the $450 million–$475 million originally planned to $325 million–$375 million. The carbon black company Orion Engineered Carbons and the inorganic specialties maker Elementis are both suspending dividends. “Our focus remains on what we can control—namely, active cost and cash management,” says Elementis CEO Paul Waterman. Meanwhile, petrochemical maker Westlake Chemical is borrowing $1 billion under a line of credit to maintain “ample financial flexibility.”

X

Article:

This article has been sent to the following recipient:

Leave A Comment

*Required to comment