2008-02-09 Manufacturing News

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Quadrant Plastics Divisions Report Improved Results

The Quadrant High Performance Plastics and Plastic Composites and Cable Protection Systems divisions reported 2007 sales slightly higher.

Quadrant AG, Zurich, Switzerland reports net sales of CHF 811.8 million for the 2007 financial year (previous year: CHF 804.3 million), representing a 1% increase over the previous year. The High-Performance Plastics division contributed CHF 663.9 million (CHF 646.3 million), a 3% growth over 2006. Net sales of the Plastic Composites and Cable Protection Systems division amounted to CHF 147.9 million (CHF 158.0 million), or 6% below the 2006 result. At the end of the financial year, Quadrant strengthened its market position in Asia by increasing its shareholding in Quadrant EPP (Quadrant Engineering Plastic Products) Japan Ltd., a world leader in the manufacture of engineering plastics in stock shapes for machining.

Quadrant is a global leader in high-performance polymer materials in the form of semi-finished and finished products and manufactures and markets speciality engineering thermoplastics and composites worldwide.

Quadrant’s sales for the fourth quarter of 2007 were slightly above the previous quarter, and with annual results at the previous year’s level, the company held its own in an uncertain economic environment. The growth of 1% is due to the first-time consolidation of Nylamid S.A. de C.V. of Mexico, where Quadrant increased its shareholding from 35% to 80% during 2007. Despite fluctuations in individual currencies, overall currency influences remained immaterial. The High- Performance Plastics division (82% of total sales) reported improved results despite a weaker economy in the USA, since the market success in Europe and Asia more than compensated for the slowdown in America. The significantly smaller Plastic Composites / Cable Protection Systems division (about 18% of total sales) continued to suffer from weak demand in the automotive sector and, as expected, was unable to surpass the 3rd quarter sales performance.

At year-end, the High-Performance Plastics division further strengthened its market position in Asia: the shareholding in Quadrant EPP Japan Ltd (Tokyo, Japan), in which Quadrant previously held 50% and Tsubaki Yamakyu Chain Corporation the other 50%, was raised to 80%. Quadrant consequently also took over management responsibility for the company. The positive effect on consolidated sales from this participation increase is expected to be at about CHF 12 million.

Quadrant is a successful high-end plastics processor operating on a global scale and occupying leading positions in growing markets

Quadrant will publish details of the 2007 financial year on 1 April 2008.

See all the Press Releases from Quadrant Group sites - Click Here

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