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Poland's plastics industry eyes growth

April 10/2012
(polyestertime) -- Despite 2011 being a year of steep increases in raw material prices in Poland, plastics industry representatives say the local market will continue to grow in 2012, as several plastics manufacturers plan on expanding the capacities of their production facilities in the country.

Walter T. Kuskowski, chief executive of plastic packaging and car accessories manufacturer Suwary, said material costs in 2011 were the highest in five years. Moreover, the weakening zloty meant a sharp decrease in profit margins last year, he said. However, the market still managed to grow, despite price pressures

The plastics industry is helped by an optimistic economic future in Poland, as hopes for further growth in 2012 are high. Credit Suisse expects gross domestic product (GDP) to grow by 3% in 2012 and a further 3.5% in 2013. In the fourth quarter of 2011, Poland posted GDP growth of 4.3% over the same period a year earlier, as shown by figures from the country's Central Statistical Office.
Author:Marina Ivanova
Category:General News
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