Sniace Says 2011 Sales Will Climb on China, Higher Prices
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Sniace SA, a Spanish maker of wood-based products that’s expanding in renewable energy, said 2011 sales and earnings will climb as it provides substitutes for cotton, which has more than doubled in price in the past year.
“2011 looks very good,” Chairman Blas Mezquita said in an interview in Madrid. “The markets where we operate, especially China, have started the year with a very strong demand,” which allowed Sniace to raise prices. “The first semester is going to be a good one, and we are optimistic for the rest of the year as well.”