Moody'S Forecast European Packaging Growth For Rest Of 2017

Moody's is forecasting a growth of 3.5% on average for the European packaging sector for the remainder of 2017. The global ratings agency said new product development and ongoing M&A should offset the drag created by flat-lining consumer demand and fierce pricing competition. Martin Chamberlain, VP and Senior Analyst at Moody's said cost reduction measures, new product development and synergies from bolt-on acquisitions will be the main drivers, with Ardagh Packaging group and Gerresheimer likely to exhibit EBITDA growth rates of around double the average for the year.