- October 22, 2002, PRESS RELEASE
FRANKFURT, GERMAN—According to the Plastics and Rubber Machinery Association of Germany (VDMA), the worldwide weak economy is impacting the plastics and rubber industries there. Says the association, "Recovery, which [was] expected to come in 2002, has to be postponed until next year."
In a recent press release, VDMA states:
For the period of January to August 2002, new orders were down 5 percent (domestic orders: -13 percent; export orders: -1percent) compared to the same time in 2001.
As expected, production and sales this year are affected by the diminishing incoming orders (last year) substantially. At this point in time, the association's estimates for production (-12 percent and new orders (at last year's level) still seem to be realistic.