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Bleak outlook for two years, says NSG boss

Post Time:Dec 09,2008Classify:Industry NewsView:488

The president and chief executive of NSG Group, which operates St Helen's based glass-making giant Pilkington, believes that the global economic outlook will remain bleak for another two years.

Stuart Chambers called on business leaders to `look to the future' during the current economic uncertainties after receiving the CBI's North West Business Leader of the Year award.

He added that NSG - which has 30,000 staff in 30 countries - is expecting to see profits fall this year.

The company, which makes and supplies glass for buildings and vehicles, has been hit by the global slump in car sales and construction projects.

He said: "It's my personal view that we will have another two years before the economic situation starts to recover, and, in the meantime, the UK is in for a hard time.

"I believe that it will take this length of time for initiatives being taken by the government to work through."

Mr Chambers added that it is imperative that companies do not lose touch with their roots as they look for future growth. He told an audience at Manchester's Midland Hotel about the ways his life has changed since Pilkington was bought for £2.2bn by Japan's Nippon Sheet Glass in 2006.

The 52-year-old, who began his career working at Shell's Stanlow oil refinery at Ellesmere Port in Cheshire, has also become only the third foreigner in history to become president of a major Japanese company.

He said: "In an ever changing climate, you have to be looking forward for the sake of the company, but also you have to have a bit of an anchor in the past.

"I also think it's very important to get out to communicate with both your customers and your shareholders."

Source: manchestereveningnews.co.ukAuthor: shangyi

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