Linde sees petrochemical customers hesitating to make new investments
12/2/2015 12:00:00 AM
Global gases supplier Linde says its petrochemical customers are hesitant to make investment decisions, according to a conference call with analysts this week.
"There are no cancellations, but customers are shying away from signing new orders," CEO Wolfgang Beuchele said, according to a Reuters transcript.
The lack of new orders are hurting business for the Germany-based industrial group.
Buechele said that orders should improve in early 2016, but added that they would likely not yet reach levels seen in the recent past.
Should the situation not improve, there could be job cuts in the engineering business, the CEO added.
Linde cut its 2017 profit target earlier this week, citing slower industrial production growth as weighing on its industrial gases business.
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