Plastic manufacturer British Polythene Industries said Tuesday it expected total volume for 2011 to be marginally below 2010.
In a trading update it said the plastic converter faced subdued demand from many industrial customers and "at best" there was overall flat demand from the retail sector accompanied by softening raw material costs and increased polymer imports from the Middle East.
"Despite this difficult trading environment, we expect our results for 2011 to be at the top end of market expectations, as we benefit from the structural changes effected in recent years in the UK, and an excellent performance from our European business," BPI said.
The preliminary results for the year ended December 31, 2011 will be announced on March 5, 2012, the company added.
According to Platts data, low density polyethylene contract prices in Europe fell from Eur1,407.50/mt ($1,840/mt) FD NWE on December, 15, 2010 to Eur1,252.50/mt FD NWE in the same period in 2011.
