US housing recovery gaining momentum: Axiall CEO

06 November 2013 21:32 Source:ICIS News

HOUSTON (ICIS)--The upturn in the US housing industry seems to be gaining momentum, the CEO of vinyls and chlor-alkali producer Axiall said on Wednesday.

Many housing analysts have expressed doubts about the recover due to rising mortgage lending rates, but increasing rates is “a bit of a blip from our point of view”, said Paul Carrico in a Q3 earnings conference call.

“We've seen solid volumes in the third quarter for the first time in a long time and particularly, in the US, and I'd tell you that as we look through October and November, that general trend looks to continue,” Carrico said.

Axiall is a major producer of chlorine and caustic soda, two key materials used in making home construction products.

The company’s viewpoint of the US housing industry comes from both its Building Products division as well as on the resin material side, the CEO said.

“Both of those pieces of the equation are telling us that there’s still momentum going the right way,” Carrico said.

By Jeremy Pafford