03 December 2007 11:01 [Source: ICIS news]
By Jeanne Lim
SINGAPORE (ICIS news)--Wacker Chemie expects further growth and stable margins next year but continued weakening of the US dollar could hurt earnings, the Geman chemicals group's CEO said on Monday.
“We're pretty confident that we can grow on sales and stabilise margins next year... but for the exporting industry in ?xml:namespace>
“At this level, we are in a position where it hurts earnings,” he said.
He had told a German daily in an interview published on Saturday that the weak US dollar versus the euro had reached a point where the entire German industry was feeling the strain.
However, growth was still very likely in
Wacker, who was in
“We see growth potential for all products [in
Wacker sees growth potential particularly for its construction polymers and polysilicons in the region, where tight supply and high demand were driving up margins.
The company planned to double its polysilicon capacity by 2010.
Wacker, however, was less specific about how the firm planned to grow its polymer business in Asia, and would only say that it had invested in a dispersible polymer powder facility in
The company has technical centres in
Wacker which declined to provide financial forecasts for next year, had projected sales of €3.8bn for full-year 2007, a growth of 14% compared with 2006.
It has forecast earnings before interest, tax, depreciation and amortisation (EBITDA) margin in 2007 to be 26% higher than last year.
($1 = €0.68)
($1 = €0.68)
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