03.08.19
Coatings World: How did the market for paints and coatings fare overall in 2018?
Andersen: As expected, the coatings market remained very competitive in 2018. Raw material prices increased more than anticipated, which affected the entire industry and put immediate pressure on our profitability. In addition, the marine and oil & gas markets remained in a recessional state and the political and macro-economic situation in the Middle East made business tougher than anticipated.
Finally, we saw challenging market conditions in Asia-Pacific. We met those challenges with a positive mindset and managed to turn around the curve by installing new leadership teams in the region and by working hard on the ground to create a winning Hempel Culture, one with strong ties to our customers that ensures all employees are engaged in our customer-focused vision.
Falder: Raw material pricing and availability of key raw materials in a number of areas has created its own challenge throughout the year for all coatings manufacturers and HMG was no different. Global factors continue to create a fragility across
Andersen: As expected, the coatings market remained very competitive in 2018. Raw material prices increased more than anticipated, which affected the entire industry and put immediate pressure on our profitability. In addition, the marine and oil & gas markets remained in a recessional state and the political and macro-economic situation in the Middle East made business tougher than anticipated.
Finally, we saw challenging market conditions in Asia-Pacific. We met those challenges with a positive mindset and managed to turn around the curve by installing new leadership teams in the region and by working hard on the ground to create a winning Hempel Culture, one with strong ties to our customers that ensures all employees are engaged in our customer-focused vision.
Falder: Raw material pricing and availability of key raw materials in a number of areas has created its own challenge throughout the year for all coatings manufacturers and HMG was no different. Global factors continue to create a fragility across
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