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German plastics converters: Recession bites in 2009

German plastics converters were hit squarely by recession in 2009. Turnover plummeted 14% year-on-year to EUR 45.8 bn, as foreign sales declined 16% to EUR 16.1 bn and domestic sales fell 12.5% to EUR 29.7 bn. Production sank by 11%. Hardest hit were automotive OEM suppliers, with a setback of 20% to EUR 9.6 bn. Packaging producers saw a decrease of 10% to EUR 12.5 bn. Supported by government stimulus packages, construction industry suppliers held the decline to 8% (EUR 10.2 bn).

The industry association Gesamtverband Kunststoffverarbeitende Industrie (GKV, Bad Homburg / Germany; www.gkv.de) said it is "reservedly optimistic” about recovery in 2010.

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