US PolyOne still seeing no rebound in European markets – CEO

03 May 2012 16:16  [Source: ICIS news]

HOUSTON (ICIS)--PolyOne continues to be pessimistic about economic developments in Europe, seeing no rebound in the near term, the CEO of the US-based polymer materials firm said on Thursday.

“We are not seeing a rebound in Europe, and are not holding our breath,” PolyOne CEO Stephen Newlin said in response to analysts’ questions during the company's first-quarter results conference call.

Europe is in difficult shape right now, there is a lot of consumer pause and concern about the overall economic backdrop”, which causes consumers to hold back in their purchases of cars or other large items, Newlin said.

He noted in particular recent declines in European automobile production.

These trends affect PolyOne’s packaging and consumer products businesses in Europe, he said.

“We are going to suffer along with anybody else in this European backdrop, and we are not anticipating any kind of major turn in the near term [in Europe], “ he added.

Paul Hodges studies key influences shaping the chemical industry in his Chemicals and the Economy Blog

By: Stefan Baumgarten
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