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Downturn cuts leading petrochemical firms' profits.

Publication: Chemical Week
Publication Date: 02-FEB-09
Format: Online
Delivery: Immediate Online Access
Full Article Title: Downturn cuts leading petrochemical firms' profits.(BUSINESS & FINANCE NEWS: ASIA/PACIFIC)(Reliance Industries Ltd.)(Siam Cement Company Ltd.)(LG Chem Ltd.)(Financial report)

Article Excerpt
The global economic slowdown and falling petrochemical demand have had a major impact on the latest quarterly financial results of leading Asian petrochemical producers.

Reliance Industries recorded a 10% fall in net profits, to Rs35 billion ($714 million), for its fiscal third quarter, ended December 31, 2008, compared with the year-ago period. Sales were down 7%, to Rs322 billion. Reliance's quarterly profits dropped for the first time in three years, reports say. "This was one of the most challenging...

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