Connell bullish on 2009 imports; eyes acquisitions

04 December 2008 03:50  [Source: ICIS news]

SCOTTSDALE, Arizona (ICIS news)--Chemicals distributor Connell Brothers Co is upbeat about growth of cheaper imports from Asia next year despite worries about global recession, company officials said on Wednesday.

Asia is “very much a spot market” and suppliers “are more reactive” in setting prices against US producers that go for quarterly pricing, said Connell Brothers chemicals general manager Michael Wilbur at the 37th annual meeting of the National Association of Chemical Distributors (NACD).

"We can grow our volume in a declining year," said Carl Martin, the import department manager of the company.

Connell Brothers’ sales reached $700m in 2007, with plastic resins accounting for about half of its total imports.

"We are a small company that has grown a lot," said Martin. "Our goal is to be the leading off-shore sourcing partner in the U.S."

Connell Brothers is actively looking for possible acquisitions to continue growing its business.

"If there was an importer here that was the right strategic and cultural fit, we would be interested in an acquisition," said Wilbur.

The NACD annual meeting will run until December 5.

To discuss issues facing the chemical industry go to ICIS connect

By: Ivan Lerner
+1 713 525 2653

AddThis Social Bookmark Button

For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.

Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.

Printer Friendly