A Message from Management: Q4 – Committed to Our Customers
A Business Update from Vice President & General Manager Michel Merkx
“In the 3rd quarter of 2022, we saw continued growth in the Building & Construction market (despite rising interest rates) as well as in the Surface Protection and Graphics markets. The Automotive market, however, remains very challenging with lower units produced and OEMs looking for various cost savings. This, in combination with (raw) material inflation, high(er) stock levels and supply chain difficulties, a tight labor market, and the looming notion of a recession creates volatility and uncertainty for our customers and end-users, which, in turn, might curb demand and investments.
As such, we are making the necessary adjustments to our business to better weather these ‘head-winds’ and build on the strength of our organization. Our focus and priority remain on customer relationships and high service levels.
We are grateful for the deep and longstanding relationships we have with both our customers and supply partners and a big thank you to all ABI and Ideal Tape employees for their competency and dedicated work and service with a smile. Wishing you a safe and happy Holiday Season!”