Belgium: Recticel blames US operations for declining profits

摘要

POLYMER foam manufacturer Recticel has announced a decline in profits due to several set backs suffered by its US automotive business in the past year. According to the supplier, the problems centred around higher establishing costs at its Tuscaloosa plant that supplies Mercedes models, the problems at Delphi, lower than expected volumes from GM and a loss on the sale of shares in Foamex.