Relative to the Company’s previously communicated outlook for the third quarter, global unit demand has lagged expectations particularly in Latin America, Thailand and Spain. End market demand throughout Latin America continues to be hampered by inconsistent construction spending and electrical infrastructure investment. In Thailand, demand for the Company’s products has not yet been significantly impacted by the actions taken by the new government aimed at improving domestic economic activity. Additionally, the Spanish market remains difficult due to the ongoing challenges faced in that economy.
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