John McGlade, Chairman, President and CEO of Air Products might have been speaking for the global industry when he made the following statement about his expectations for the short term.
“While the near-term economic outlook is for continued slow growth and is clouded by global economic and policy uncertainties, we are well positioned with a large backlog of projects backed by signed customer contracts. We are confident that the prospects for industrial gases and Air Products, in particular, remain bright and we remain committed to achieving our 2015 goals for growth, margin and, most importantly, return on capital,” he said.
The uninterrupted growth trend of this global industry over some two decades shows the remarkable resilience of demand for gases through previous economic cycles. The 2008 decline of nearly 10% gave a clear wake-up call.
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