IK Industrievereinigung Kunststoffverpackungen e.V. : Strongly increasing raw material prices despite reducing demand
(firmenpresse) - (DGAP-Media / 08.10.2012 / 10:45)
Strongly increasing raw material prices despite reducing demand
Bad Homburg, October 8th, 2012: The IK economic trend survey, in which
members of the association are asked questions on economic topics, predicts
a further decline in the economy for the 4th quarter of 2012. The
assessment of the current economic situation in Germany has reached its
lowest level since the fourth quarter of 2010.
Despite this economic downturn, manufacturers of plastics packaging were
confronted with strongly increasing raw material prices. Supply shortages
occurred regularly, entailing short notice delivery cancellations. Overall,
this development was met with little understanding amongst the customers of
IK members.
Essentially, this fatal situation was caused by a shortage of supplies on
the part of raw material suppliers. Force Majeure announcements also
contributed to aggravate the situation. In this context it must be noted
again that the legal basis of many of these announcements is legally
debatable. The IK Industrievereinigung Kunststoffverpackungen e.V.
therefore invites the European umbrella organizations of plastics producers
and converters to develop suitable activities which in the future guarantee
an explicit legal orientation when using the term Force Majeure.
Overall, according to the IK's assessment the current raw material and
supply situation cannot be calculated any more. This means a considerably
increased margin risk for plastics packaging manufacturers. In particular,
the price jumps occurring more and more quickly and frequently can only be
passed on to the market with difficulty. Against this background, the
IK-economic survey predicts a dramatic profit decline for the 4th Quarter
of 2012.
With approximately 300 member companies IK Industrievereinigung
Kunststoffverpackungen e.V. is currently the largest association within the
plastics industry in Europe.
The IK is a supporting member of the GKV e.V. and is therefore engaged for
the interests of the whole plastics processing industry in Germany.
End of Media Release
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Issuer: IK Industrievereinigung Kunststoffverpackungen e.V.
Key word(s): Enterprise
08.10.2012 Dissemination of a Press Release, transmitted by DGAP - a
company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
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Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
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187935 08.10.2012
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