Brussels — Belgian foamer Recticel is bracing itself for a tough 2014 although Michel De Smedt, the company’s external communications and investor relations manager, said “the feeling” was that there would be no further deterioration of markets. He added, however, that the coming year would in his view “still be very challenging.”
As reported by UTI magazine, the company experienced a drop in sales in both the flexible foams and insulation segments compared to 2012. The company also reported a drop in its combined automotive sales during the first nine months of 2013, compared to 2012, but its automotive sales did rise in the third quarter compared to the corresponding quarter in 2012.
De Smedt pointed to the “volatility” of the polyurethane markets in 2013 and described the automotive market as “uncertain”.
He added: “Investment in industry is relatively weak and we are feeling that in the flexible foams business.”