Global Industrial Winners

Please refer to Jefferies' important disclosure.


Laurence Alexander reviews how winners in the chemical industry need to adapt in a period of dramatic change. He believes that the agricultural industry is being transformed, shale projects aim to add more than $100 billion in sales, and the chemical M&A cycle will likely exceed more than $200 billion.

Paper & Packaging

Phil Ng describes how the world leaders in paper & packaging are those that have generated strong free cash flow and been good stewards of capital. While innovation is key, given the commodity nature of the business, a low cost structure has been more critical.

Aerospace & Defense Electronics

Sheila Kahyaoglu cites her concerns about the longevity of the aerospace cycle and that the suppliers who may be winners in the aftermarket are those that have high proprietary content.

Aerospace & Defense

Sandy Morris notes that all companies need to remain focused on the long-term – avoiding short-term temptations, to remain close to customers and to provide impeccable support.

European Engineering & Capital Goods

Graham Phillips discusses how industry 4.0 means more of the customer wallet can be earned and more of the value chain can be won.


Steve Volkmann explains that strong distribution will be the key differentiator between top tier global companies and laggards in the coming years.