Germany-based plantmaker SMS Group has estimated that its order intake for 2012 will amount to €3.2 billion, staying below the 2011 level of €3.42 billion, citing reluctance among its customers to place orders.
SMS Group stated that customers are hesitating to place orders not only because of the weak steel market, but also due to the expected effects on the global financial system of Europe's national debt and euro crisis. The plantmaker's original order intake estimate for the year in question was more than €3.5 billion.
Meanwhile, the acquisition of the Luxembourg-based plantmaker Paul Wurth provides SMS Group with an additional order volume of around €500 million.