11 November 2011 11:48 [Source: ICIS news]
LONDON (ICIS)--Sales volumes remained “disappointing” through the third quarter and the pattern of demand is likely to continue to the end of the year, British Polythene Industries (BPI) said on Friday.
The third quarter met management expectations, and restructuring would help maintain financial performance in difficult times, the company said in an interim management statement.
Sales volumes in the most recent quarter were disappointing and flat overall but were lifted by 5% higher demand for silage stretch wrap brought about by wet summer and autumn weather, it added.
“The easing in polymer input costs continues, with proposed increases announced monthly by our suppliers finally resulting in minor decreases in price; a process that is not conducive to credibility with customers,” BPI said.
“Our current expectation for the remainder of the year is a continuation of the pattern of the third quarter but without the benefit of sales of silage stretch wrap. Business will continue to be very challenging and we do not anticipate any improvement in demand.”
BPI says it is the leading manufacturer of polyethylene film, bags and sacks in Europe, with a manufacturing capacity of 300,000 tonnes/year. It also claims to be the largest recycler of polyethylene waste in the region.
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