27 July 2010 18:05 [Source: ICIS news]
HOUSTON (ICIS news)--The automotive industry should continue to recover, while construction will likely remain weak until 2011, an executive for US specialty chemicals producer Solutia said on Tuesday.
Solutia makes products used for window films, safety glass and tyres in automobiles. Those three areas touch on all of Solutia's business segments.
Solutia expects demand to continue recovering for automobiles, with growth in emerging markets, said Jim Voss, chief operating officer. Voss made his comments during an earnings conference call.
In the US, the number of miles driven has remained steady or even improved slightly, Voss said. That should benefit the company's rubber chemicals, which are used to make tyres.
Although construction should increase in China, that growth should be offset by declines in other parts of the world, particularly in the US, Voss said.
Worldwide, construction should not recover until sometime in 2011, Voss said.
Solutia makes films and interlayer used in the windows of buildings.
Regarding electronics, Solutia's films continue to benefit from increased demand from e-readers such as Amazon's Kindle and Apple's iPad tablet computer.
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