Nuplex cut to ‘hold’ at Craigs on steeper-than-expected Australian manufacturing downturn

Wed, 26 Mar 2014

By Suze Metherell March 26 (BusinessDesk) – Nuplex Industries was winded by a steeper-than-expected cyclical downturn in Australia’s manufacturing sector, says Craigs Investment Partners, which cut the specialty chemicals manufacturer to ‘hold’ from ‘buy’ following its first-half results. The market in Australia and New Zealand has undergone “a structural change” since 2010, as Nuplex’s high margin customers, in packaging adhesives, textiles and inks, reduce production in response to a manufacturing that’s trimming local output in favour of...

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