US PolyOne confident of Europe business, despite weak economy - CEO

30 January 2013 15:37  [Source: ICIS news]

HOUSTON (ICIS)--PolyOne is confident in its business prospects for Europe, despite the region’s ongoing economic weakness, the CEO of the US-based polymer manufacturer said on Wednesday.

Stephen Newlin, who was on a business trip to Europe last week, said he came back “really energised” and excited about PolyOne’s activities and prospects in the region.

As the European economy will continue to be weak at least through the first half of 2013, PolyOne is reorienting its sales force on opportunities the crisis created, Newlin told analysts during PolyOne’s fourth-quarter results conference call.

“These kinds of challenges create lots of opportunities,” Newlin said, pointing to lightweight materials for the automotive industry as one example.

“Our same-store sales [in Europe] are going to be sluggish, but we are growing in other markets,” Newlin said.

“We are in some long-term sales cycles in Europe and are making outstanding progress,” he added.

On Tuesday PolyOne reported a 6% year-on-year increase in 2012 fourth-quarter revenues, with operating income improving in the company’s three core businesses – specialties, performance products and distribution.

By: Stefan Baumgarten
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