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GF moves ahead with promising results in plastics pipe division
Swiss engineering company Georg Fischer grew sales and profits last year, with its pipes division putting in the star performance. Overall, group sales grew
3% to CHF3.7bn ($3.7bn), with profits up 5% to CHF311m. However, sales at GF Piping
Systems (GFPS) rose 5% to nearly CHF1.5bn, on the back of strong worldwide demand. The building technology sector brought significant sales increases, while utility-related turnover remained stable. Profitability (EBIT) in the
division grew 13% to CHF296m. Return on sales for the
division rose from 10.1 to 10.8%.
GFPS acquired three
companies during 2016: PT Eurapipe, a polyethylene pipes and fitting manufacturer in Indonesia; and two companies in China.
The company said that its
GFPS will supply piping to 10 cruise liners over the next five years
‘Strategy 2020’ is under way: a shift to higher-margin businesses is on track with the entry of GF Piping Systems into new sectors like air-con- ditioning, it said. lGFPS recently won a €40m contract to equip 10 cruise liners with fluid transport systems. The company will supply its lightweight pipe to STX France over the next five years. The contract includes pipes, fittings and jointing technology. ❙
www.gfps.com
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