Bekaert: Third quarter trading update 2011
Please find attached a press release concerning the 3d quarter trading update 2011 of Bekaert.
Economic slowdown in China offsets Bekaert's performance in the rest of the world
Bekaert achieved solid sales growth in most segments throughout the first nine months of 2011, compared with the same period of last year. Business activities in China were affected by reduced growth in the sectors Bekaert serves and by stringent credit restrictions. Moreover, continued low demand and increased price pressure, driven by substantial overcapacity in the solar energy markets, led to a significant reduction of revenues in the sawing wire activities.