TOUGH TIMES STILL AHEAD FOR PAINT SECTOR IN GULF
January 1st, 2012
BY PAUL COCHRANE, IN BEIRUT
BACK in the noughties, the Gulf was one of the fastest growing regions for paint companies, thriving on an unprecedented construction boom. But then the financial crisis hit in late 2008, ending years of double-digit growth for paint manufacturers in Gulf countries. However, they managed to ride out the downturn in 2009 and 2010 as nearly completed projects came online. But last year these legacy jobs finished and smaller players have suffered, with big companies offering competitive deals to bag paint contracts for the increasingly ...
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