CORRECTED-CESCO-Luvata trims market growth expectations on Europe crisis

lunes 8 de abril de 2013 22:08 CEST
 

(Corrects first paragraph to say "percentage point" instead of "percent.")

* Sees market growth at 2.5 pct vs 3.5 it expected in Jan

* U.S. market stronger than thought, China sluggish

* Steps away from spot market, secured long-term contracts

By Susan Thomas

SANTIAGO, April 8 (Reuters) - Copper products maker Luvata has trimmed 1 percentage point from its expectations for 2013 market growth mainly due to the financial crisis in Europe, and has warned of sluggish demand in China, one of its biggest markets, Chief Executive John Peter Leesi said on Monday.

The Europe-headquartered company, whose products are used in heating, ventilation, air conditioning and refrigeration, now sees market growth at 2.5 percent, down from the 3.5 percent it had expected in January, Leesi said in an interview on the sidelines of the CRU/CESCO conference in Santiago.

"We remain positive about the U.S., we see the U.S. as a stronger market even than we thought a while ago," Leesi said.

"However, Europe is not improving at all, there is no improvement in Europe. And that is the main reason we have taken down our expectations for 2013."   Continuación...