Following the acquisition of German competitor Thyssen Polymer (D-94327 Bogen; www.thyssen-polymer.com), sales at PVC profile manufacturer Deceuninck NV (B-8830 Hooglede-Gits; www.deceuninck.com) rose 29% to EUR 469m in 2003 on the basis of provisional figures. Thyssen Polymer was only consolidated for the last six months of the year. Volume sales at Deceuninck (without Thyssen Polymer) increased 8.5% against 2002. Euro-denominated sales of the company, which is quoted on the Brussels stock exchange, failed to keep pace with the volume increase, due to the weakness of a number of currencies (USD, GBP, PLN). However, thanks to local production, margins remained unaffected.

CEO Clement De Meersman calculates that Deceuninck was able to keep price erosion within limits in 2003. The year was marked by a surprisingly pronounced upswing in the second half, with eastern Europe – in particular Russia and the EU accession states – recording a high level of growth. Within the EU, new construction starts in both the private and industrial sector are still showing weakness but this has been largely offset by the increasing use of PVC windows in renovation. As the integration of Thyssen Polymer is making good progress, a new profile system (“Zendow”) is to be introduced shortly and the earnings situation appears stable, the Belgian company believes it is well positioned for the upturn that seems set to materialise in Europe.