Demand for our freezing and protein processing product lines is improving. First quarter inbound increased year-over-year across all regions. Many of the orders were from non-poultry segments. As for the poultry segment, corn prices have declined recently while poultry prices firm up, which is positive for our customers' bottom line. We have begun discussion with some of our poultry customers regarding their capital requirements and anticipate a rebound in capital spending in the next six to nine months.Overall, we are very pleased with the level of activity we are seeing for these product lines. However, due to weak demand in 2009, many of our competitors lowered prices on several projects to capture business. We have selectively responded and as a result, we did see some negative impact on our margins. With the economy improving and demand on the rebound, we believe this price pressure will ease.
John Bean Technologies Corporation Q1 2010 Earnings Call Transcript
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