28 May 2010 16:07 [Source: ICIS news]
SHANGHAI (ICIS news)--Bayer MaterialScience (BMS) is confident that its 2010 full-year earnings before interest, taxation, depreciation and amortisation (EBITDA) will be double those of the previous year, the company’s CEO said on Friday.
BMS’s Patrick Thomas said he expected the second quarter to be slightly better than the first, while the 2010 full-year results would double that of 2009.
He was interviewed at the opening of BMS’s AutoCreative centre in ?xml:namespace>
The driver of the company’s growth in 2010 would be polycarbonates (PC), owing to the boom in electronics, office equipment and flat-screened TV panels, Patrick Thomas said.
“Meanwhile, optic disc storage is also performing surprisingly well,” he said.
“The downside risk is only on high material cost,” said Thomas.
The company is a major producer of polyurethanes (PU), toluene diisocyanate (TDI) and methylene di-p-phenylene (MDI).
PU demand had seen speculative growth in
“This year the growth won’t be that much and will be closer to GDP. If demand remains the same as [the first quarter], the annual growth of PU demand from the automotive sector in
The company’s CEO said: “As the world’s largest consumer and manufacturer of automobiles,
($1 = €0.81)
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