Growth at Stahl despite ‘challenging market circumstances’
03/12/2018
Parent group, Wendel, said on releasing the figures that this increase resulted from organic growth of Stahl’s business of 2.9% added to the impact of the full integration of BASF’s leather chemicals business.
Wendel also said that Stahl’s performance coatings business contributed much of the organic growth and that its leather division had had “a somewhat weaker performance”. It said its leather chemicals division continues to face “challenging market circumstances”, particularly in footwear in India and China.
At the same time, it said sales of leather chemicals in the automotive segment are being “negatively impacted” by lower car sales in China and by temporary halts in production at some original equipment manufacturers because of the demands of new carbon emissions testing requirements.
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