Bloomberg News

Air Liquide Saw No Major Rupture in Pre-Summer Trends, CFO Says

October 26, 2011

Oct. 26 (Bloomberg) -- Air Liquide Chief Financial Officer Fabienne Lecorvaisier said the company has seen “sor far no major rupture in the pre-summer trend” despite an “adjustment” in some markets due to Europe’s sovereign debt crisis.

“We probably have to wait to wait for October or even November to better understand the impact of the financial current turmoil on our business,” the CFO said on a conference call. “Demand is softening in the steel industry, with furnace closures in France, Belgium and Canada.”

The chemical industry “remains solid so far and demand in energy sector is still growing,” the CFO said. “We see a decrease in the auto and fab sector except for Japan where the aurtomotive industry is recovering.”

“Food and pharma is growing,” she said, adding that “electronics is globally slowing down in integrated circuits and flat panels, with visible sales decrease in Japan” and in Taiwan to a lesser extend.“Medical gases are under pressure both interms of volume and pricing while other segments remain very solid.”

To contact the editor responsible for this story: Francois de Beaupuy at fdebeaupuy@bloomberg.net


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