DUISBURG (dpa-AFX) - German steel and metal products distributor Kloeckner & Co. SE (KCO) reportedly expects demand for steel in Europe to decrease in 2012. In an interview with Financial Times Deutschland published on Monday, the company's Chief Executive Officer Gisbert Ruehl said Kloeckner is preparing to face a drop in demand of up to 5 percent or even worse in Europe this year, as the region continues to be haunted by the sovereign debt crisis. The debt crisis and the resultant drop in business is forcing clients to be stricter with inventories, as more projects are delayed or cancelled due to lack of investor confidence.
Copyright RTT News/dpa-AFX
© 2012 AFX News
