Expert's Opinion

The Hellenic Chemical Industry will deliver despite the economic turmoil

By Panos Scarlatos, Director General, Helenic Association of Chemical Industries (HACI) | February 28, 2012

Our country for the past two years has been in the spotlight of the economic world. Negative publicity for the last couple of months has created a sense of insecurity to the stakeholders of the Greek economy as well as to all those who trade with Greek enterprises.

The Hellenic Association of Chemical Industries consisting of long-established and well known companies operating in the market for many years considers that now is the most suitable moment to inform the stakeholders of our industry on our view of the situation.

Our member companies, producers and suppliers of chemicals have a sound history of growth, profitability and financial stability. They have long invented in infrastructure, equipment, technology know–how and brand value. Their operation has been managed efficiently over the years, they succeed not only to meet the growing demands of the Greek market but also to expand by exporting their products, an undisputed proof of their competitive edge.

In the last decades some of our member-companies have expanded by subsidiaries abroad fortifying their place in the international market with sales and operation network in many other countries.

Undoubtedly the economic crisis resulted in a significant downturn of the internal demand mainly driven by the decline of the consumption and the other sectors’ demands. Our member companies reacted immediately and prudently in accord with the business requirements in the EU context.

The situation the country is currently experiencing, certainly keeps affecting the everyday business to an extent that they confront exaggerations that do not necessarily reflect the quality, the dynamic and the strengths of our industry.

We are confident that the Hellenic Chemical Industry and our member companies possess the experience, the skills and the will, to overcome the current hectic situation and meet all the liabilities towards customers and suppliers. We will pursue the efficient use of the available financial aid for our country, so combined with the necessary reforms already on the way; the credibility of the country will be restored. Also we urge all stakeholders being suppliers, bankers and customers to stay side-by-side with our members, and further promote their well-established beneficial and trustful collaborations, until the dawn of a new prosperous era.         

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