RUSSIA’S PAINT AND COATINGS SECTOR POWERS ON DESPITE CREDIT CRUNCH
November 1st, 2008
BY MARK ROWE
THE CREDIT crunch may be about to apply the handbrake to the Russian economy, but its paint industry continued to flourish in 2008, mirroring the expansion of wealth in the country, and suggesting the sector may buck the expected downturn in the coming 12 months.
According to trade analysts Euromonitor, retail sales of Russian paint almost tripled to US$610 million between 2001 and the middle of 2008, while Russkie Kraski (Russian Coatings), one of the three largest Russian brands, reported in October that market growth for the industry in 2008 was ...
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