GLOBAL COATING SECTOR WELL POSITIONED TO RIDE OUT FALL IN AUTO INDUSTRY SALES
April 1st, 2009
BY RUSSELL BERMAN
WITH the auto industry in the United States and Europe in the midst of an unprecedented downturn, the international paints and coatings sector has taken a deep hit as well and has been forced to turn to painful strategies in the hopes of riding out the recession.
Paint and coating sales to the auto sector are directly tied to the production rate of cars, industry officials say, and global OEM [original equipment manufacturer] production dropped 50% in the first quarter of this year in North America and 35% in Europe, according to figures ...
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