We expect the market activity in Pulp and Paper projects to continue at a good level.
Market activity in Chemicals and Oil & Gas projects is expected to continue at a satisfactory level, as it did during the second half of 2020. Postponements of projects and global uncertainties continue to reduce visibility in the Chemicals and Oil & Gas project businesses.
Market activity for the Services and the customer Maintenance, Repair and Operations-driven (MRO) businesses is expected to gradually improve during the second quarter of 2021 from the weak levels of the second half of 2020. Large shutdowns are still being postponed due to the Covid-19 pandemic and customers’ tight cash management.
The ongoing Covid-19 pandemic continues to create uncertainties and risks of abrupt changes in all markets important for Neles.
Market outlook reflects management’s expectation for the next six months unless otherwise stated.