Brambles CEO Flags Growth In The US And Push Into New Markets
MELBOURNE -(Dow Jones)- Brambles Ltd. (BXB.AU) Chief Executive Tom Gorman said
Sunday he believes the group can boost its business in the U.S. and can also
grow through entering new regions and market segments.
Earnings from Bramble's CHEP pallet division in the U.S., which account for
about 30% of the company's sales, came in below expectations in the last quarter
but Gorman said he still sees growth opportunities in the U.S.
"If the question is [is] there room to grow in the U.S., well the answer to
that is absolutely, yes," he told Australian Broadcasting Corp. television. "
The U.S., and continental Europe for that matter, are both markets that I think
most people would say are mature markets in terms of economic growth but in
terms of pallet pooling I think we have enormous opportunities to grow in both
markets."
Gorman said Brambles will also be targeting growth by moving into new regions,
with China and India offering opportunities, and by moving into new market
segments.
"We're looking at going into pharmaceuticals and building products in the U.K.
[and] we talked about looking at different beverage sectors in the United
States," he said.
-By Alex Wilson, Dow Jones Newswires; 61-3-9292-2094; alex.wilson@dowjones.com
(END) Dow Jones Newswires
11-21-092038ET
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