The company is still committed to PET systems despite a slowdown in the sector

Husky president Robert Schad says he sees no upturn in the plastics market at present, countering upbeat assessments emerging at K2004.

“Everyone is talking about the market going up. I don’t think the market is going up. I think it’s levelling out,” he told a K2004 press conference yesterday.

There is still overcapacity in the manufacturing sector, he said. The plastics market is also still adjusting to changes such as the shift in production and demand to Asia. “Equilibrium needs to be established,” he said.

Profits at Husky Injection Molding Systems last year were held down, largely because of a slowdown in the PET sector (PRW.com 27 September). But Schad reiterated the company’s faith in its PET strength and claimed new entrants to the market are not doing so well.

“We are well established and are making money in PET. And we have the strength to go any way the market has to go.” It is now targeting smaller cavity PET market after building a dominant position in high cavity. It is also expanding its coverage of non-PET sectors, especially packaging and automotive.