RECESSION BRINGS MIXED BAG OF FORTUNES TO UK CONVERTING SECTOR
June 1st, 2009
BY SYMON ROSS
WHILE many British converting businesses have so far held up well in the recession, the sector has not been immune to the downturn. A year ago the sector was buoyant as raw materials prices were coming down and, as far as Britain is concerned, a softening pound worked in favour of UK-based manufacturers. When the latest banking crisis kicked in last autumn, however, conditions changed quickly, and commitments for new expenditure became less certain.
"In November/December time when the bank crisis really came to fruition I would say around 50% ...
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