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Polinox estimates a 6% revenue growth in 2012 and according to Roberto Pontifex, CEO, the estimate is initially based on the historical annual growth rate of the Brazilian composites market, nearly always double the GDP.
“It is hard to imagine a GDP lower than 3% this year, even though the economic variations experienced in 2011 still persist and, above all, the delay in the release of government funds for infrastructure” Pontifex explains.
According to Polinox, this was the main reason for their growth of only 3% last year – the company was expecting to reach approximately 10%. For Pontifex, the strong demand from the automotive sector was not sufficient to offset the lack of projects involving basic sanitation and popular housing, such as Minha Casa, Minha Vida (government housing program). “The carriers anticipated the purchase of buses and trucks due to the effectiveness of the emissions law this year, Euro 5, which increased the prices of vehicles. Thus, if the government had done half of what was announced, the composites sector, in general, would have nothing to complain about”.
Pontifex says there is no other choice but to believe in the return of these key sectors for composites in 2012. “We should also increase the consumption from the wind energy market”. With an installed capacity of 280 tons/month of peroxides and 20 tons/month of waxes, he says the company is able to absorb an increase of up to 30% of the demand by adding another work shift. “In addition, we have to invest in expansion, but I believe this alternative may not take place in 2012.”
Polinox explain that the foreign market share in the balance sheet of Polinox remained stable in 2011, accounting for approximately 10% of the total production. “We started the year suffering a lot with the appreciation of the Real, but the situation improved in the second half of the year” said Pontifex. Throughout 2012, with the potential inclusion of more distributors in its retail network, Polinox intends to expand by 20% the volume of exported material.
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