Claudius Peters continued to be impacted by a lack of investment in the cement and steel industries in 1H18, said parent company, Langley Holdings, in its latest interim report. There is also little sign of any immediate improvement, although sales in China did beat expectations.
Poor market conditions were exacerbated by “difficulties trading with the emerging market of Russia, due to political tensions,” said Anthony Langley, Chairman of Langley Holdings.
Buxtehude-based Claudius Peters is a supplier of materials handling, grinding and clinker cooling equipment to the cement and other industries. It also operates an aerospace division, which supplies aircraft parts for Airbus.
Langley Holdings reported revenue of €398.2 million in the first six months of the year, in line with expectations. Revenue is expected to finish the year at €921.9 million, an increase on the €903.5 million achieved in 2017.
Read the article online at: https://www.worldcement.com/product-news/01082018/claudius-peters-hit-by-weak-cement-and-steel-industries/