13 August 2013 18:54 [Source: ICIS news]
HOUSTON (ICIS)--Momentive Specialty Chemicals is seeing some stabilisation in business conditions in ?xml:namespace>
“We have seen stabilisation, [
“We have seen some modest improvement in orders, but it is difficult to read whether that’s people restocking at a certain time or the beginning of a significant improvement,” he said.
“At this point, I think it is too early to call a recovery in
Morrison said that Momentive was fortunate because much of its European business is in northern Europe, rather than in troubled southern
As for Momentive's near-term outlook, Morrison said that even though the global economy continues to be unpredictable, the company expects that its overall volumes will moderately increase in the second half on 2013.
For the three months ended 30 June, Momentive reported revenues flat year on year at $1.3bn (€975m) amid “continued headwinds” in
($1 = €0.75)
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