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Plastic Omnium second half sees a "dynamic"

Plastic Omnium said Thursday confident the second half after a first half of the year marked a rebound in net income and revenue thanks to the automobile and the environment.

The group specializes in large plastic parts for the vehicle (body and tanks) or for the collection of waste (containers), posted first half net profit of 72.3 million euros, against eight million a year earlier.The results of the last six months is more than double that achieved all of 2009.

"The activities of Compagnie Plastic Omnium will continue to appear dynamically in the second half of 2010," the group said in a statement.

The title, which earns more than 106% since the beginning of the year, bringing its market capitalization to nearly $ 700 million, has risen by 4.5% to 39.82 euros ten minutes after the opening of trading Paris.

If the turnover of Plastic Omnium has fallen 15% in France, total sales were up by 28.5% to 1.52 billion thanks to a near doubling of sales in North America and Asia.

Emerging markets (Brazil, Russia, India and China) now account for 9% of turnover Automotive Group, a proportion expected to rise "significantly in the next three years," said Plastic Omnium.

This balance, which specifically involves the construction of five new plants should help offset the slowdown in the European car market anticipated the second half of the year with the gradual disappearance of the last car scrapping.

Plastic Omnium has also stated that the acquisition of 50% of the Belgian Solvay Inergy Automotive Systems, a leading global fuel systems and fuel tanks, which the project was announced in June, is expected to close shortly and completed by the end of the year if the competition authorities give green light to the operation.

In the environment, the group's turnover increased by 6.2% in the first half thanks to the development of sorting and of underground containers for the collection.