Plastic Omnium CEO warns of double dip

PARIS (Reuters) - French automotive parts maker Plastic Omnium (PLOF.PA) warned that it was not yet "business as usual" in the troubled sector while it sees stable year-on-year sales in the fourth quarter.

Speaking at the Reuters Auto Summit in Paris in Tuesday, Chief Executive Officer Laurent Burelle said he expected to see a "squeezed W" shape in the auto market trend next year, as conflicting signals played out in different regions.

"It is a little too soon to consider we are back again at business as usual. There is the risk of a small double dip," Burelle said.

CHINA

The group is growing "very fast" in China, and plans to open two new plants there every year for the next five years, Burelle said.

Asked if he would participate in the wave of consolidation expected among automotive suppliers, Burelle said he would only look at any acquisitions on an individual basis.

"We may look locally in one country ...but we don't have any global acquisition targets on a worldwide basis." He declined to give any details on possible sector or region.

Burelle said he thinks global auto production will increase by 2 pct next year. He was speaking at the Reuters Autos Summit, which is taking place from Nov 2-5 at Reuters' offices in Paris and Detroit.

(Additional Reporting by Gilles Guillaume and Christiaan Hetzner, editing by Marcel Michelson)