05 April 2012 18:51 [Source: ICIS news]
HOUSTON (ICIS)--Despite a challenging economic climate in Europe so far in fiscal 2012, US compounder A Schulman expects less volatility and more customer confidence in the region will help the company finish the year with performance in Europe similar to 2011 levels, a company executive said on Thursday.
Net sales for the company's Europe, Middle East and Africa segment were at $332.6m (€252.8m) in the second quarter of fiscal 2012, representing a 6.7% decrease from the previous year, based in part on economic troubles in Europe, the company said in a release.
But the company is expecting to see less volatility going forward, said CEO Joseph Gingo, speaking during a company conference call.
"We are seeing less volatility in Europe than existed even a few months ago," Gingo said. "We are seeing more confidence in our customers in Europe in terms of how they are placing their orders."
Customers are not necessarily placing large orders, but are placing orders for a period of two to three months, rather than two to three weeks, he said.
With improvement expected in its Asia and Americas segments, combined with similar performance in the European segment, Gingo said the company expects performance in 2012 to exceed that of 2011.
($1 = €0.76)
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.
|ICIS news FREE TRIAL|
|Get access to breaking chemical news as it happens.|
|ICIS Global Petrochemical Index (IPEX)|
|ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index|
Asian Chemical Connections