Report forecasts a year of job losses and takeovers for pack materials firms

packagingnews.co.uk: "The UK packaging materials industry is set for a year of takeovers, declining sales and job losses in 2009, according to the latest Plimsoll report.

The report found that 5,000 jobs could be under threat in the sector as businesses come under pressure to reduce costs in line with sales. It predicts that 329 companies in the sector could be set to reduce their staff.

Plimsoll reveals that sales growth in the packaging materials market is running at a little over 3.7%, which is up on 2007. However, Plimsoll forecasts that the overall market will see very little growth, if any in 2009."