Milan, Italy -- PU machinery maker Cannon sees potential for growth in polyurethanes markets during 2015.
Francesco Abba, sales and marketing manager at the firm, described 2014 as a “successful year” for the company and said that it is in a “financially good place”.
Plans are afoot to invest in personnel and training in the diversity of its services, such as sales and after-sales care. Already the company has invested in the R&D of new mixing heads, new mixing and dosing machines for internal development and offered customer trials, he said.
Abba said: “For us it was a good year but not as good as 2013. The markets are not growing and there has been a general slowdown which is basically due to the instability in the Middle East area and the drop of oil price."
He also said the drop in oil price was affecting Russia, which usually was a good market, and causing economical “suffering” there. As the rouble dives, Russian companies need more money to buy the same equipment. “This is the problem with Russia, but we have one of the most effective Cannon location there” he said.
For the other BRIC nations, the story is the same, he said. “Economy is slowing down there.”
“The only country that is still showing reasonable promise is China, although,” he added, "even the markets in China are growing at lower pace.”
He said he could see potential for growth in 2015 adding that the firm had a strategy to increase its presence in North America by 15 to 20%. “I would say that the refrigeration and panels markets will almost stable because everybody is trying to save energy. This is a must.”
Abba said the indication from market was that the automotive will be increasing in medium-long term and in the US at least is already in place, people are buying cars. Abba also said that European car sales started to increase again in the current year.