DuPont Sees Demand Softening in Europe
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DuPont Co., the No. 1 U.S. chemicals producer, warned that demand in some of its key markets, including Europe, has weakened in the second quarter.
The disclosure by the company’s chief operating officer, Richard Goodmanson, helped to drive DuPont’s shares down $1.92, or 4%, to close at $47.39, on the New York Stock Exchange.
“For the first time in this downturn, demand in Europe has softened,” DuPont said.
Figures showed that Europe’s two largest economies, Germany and France, slowed sharply in the first quarter. German year-on-year growth slowed to 2%, the lowest rate since the third quarter of 1999, from 2.6% in the final quarter of 2000.
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