Hot Topic – New Year, new start


In a new addition to gasworld magazine, the ‘Hot Topic’ addresses the important issues related to our industry. This month, Katie Hill looks at what we can expect in 2010.

This time last year, things were already looking bleak for many industries, especially for ours. Gas company CEO’s and Managers were reviewing monthly sales stats that had turned red in and around October 2008, and were deepening in colour as 2009 evolved. What was happening and how to react were the key questions being asked.

Economists were in turmoil, and getting a consistent set of macro-economic forecasts was nigh on impossible – how deep would the global recession go?

In Air Products’ fiscal 2009 first quarter earnings release, Chairman, President and
Chief Executive Officer John McGlade commented, “Over the quarter, we saw further deterioration in business conditions, resulting in one of the weakest economic environments we’ve ever seen.”

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