Great American Group Reports Strong Auction Results in Chemicals and Plastics Industries Despite Turbulent Global Trends
-Improved downstream manufacturing bolsters demand-
WOODLAND HILLS, Calif.--(BUSINESS WIRE)-- Despite turbulent global economic and political conditions that have constrained many segments of the U.S. economy, analysts with Great American Group, Inc. (OTCBB:GAMR) report that the chemicals and plastics industries have performed well in the first three quarters of 2012.
Strong demand has been driven by improved manufacturing in the U.S., particularly in the automotive sector that continues to exhibit strong sales growth, and in the construction market, which continues to struggle from month-to-month but has shown strong year-over-year improvements.
"In the face of ongoing global uncertainty, chemicals and plastics continue to demonstrate stable growth," said Jonathan Deptula, Great American Group project manager and chemicals/plastics industry specialist. "While the market has not yet returned to pre-recession levels, it is certainly on the path to recovery. As the broader economy slowly improves, we expect the chemicals and plastics industries to continue on the same path."
In its latest Chemicals and Plastics Monitor, Great American Group notes that analysts expect the plastics processing equipment industry to remain steady in coming years. Over the last two years, demand for secondary equipment has been particularly strong as older equipment was scrapped during the recession and late-model, used equipment became highly sought after. Great American Group believes that the market will normalize in the coming years, though a decrease in value is not anticipated.
"Great American Group conducted five auctions of Fortis Plastics, LLC's machinery and equipment over the course of 2012, with the most recent occurring in October," said Great American Group Industrial Division President Mark Weitz. "Due to strength within the plastic manufacturing industry, the auctions were very successful with stronger-than-anticipated bidding interest from both end-users and dealers."
For more information about industry trends in chemicals, plastics and packaging, download Great American Group's newest quarterly Chemicals and Plastics Monitor - available at http://www.greatamerican.com/news_media/downloads/Oct_Chemicalsandplastics_Monitor.pdf
For more information about asset disposition, valuation and appraisal services available through Great American Group, visit the company's website at www.greatamerican.com.
About Great American Group, Inc. (OTCBB:GAMR)
Great American Group is a leading provider of asset disposition and auction solutions, advisory and valuation services, capital investment, and real estate advisory services for an extensive array of companies. A trusted strategic partner at every stage of the business lifecycle, Great American Group efficiently deploys resources with sector expertise to assist companies, lenders, capital providers, private equity investors and professional service firms in maximizing the value of their assets. The company has in-depth experience within the retail, industrial, real estate, healthcare, energy and technology industries. The corporate headquarters is located in Woodland Hills, Calif. with additional offices in Atlanta, Boston, Charlotte, N.C., Chicago, Dallas, New York, San Francisco and London. For more information, call (818)884-3737 or visit www.greatamerican.com.
Great American Group
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