NEWS Sirmax posts record Q1 result
Italian compounding group Sirmax posted a record result for the first quarter of 2021 with production volumes up by 15%, driving total sales for Q1 2021 to €100m and EBITDA to €12.5m (70% ahead of 2020). Strongest performances were seen in its SER business, which produces compounds based on compostable polymers and post consumer waste and saw sales grow by 25%. The company also reported a good result in the US, where production volumes were up by 45% on high demand from the house- hold and appliance industries. Sirmax — one of the world’s largest
producers of technical PP compounds for the automotive, appliance, E&E and construction sectors — said the good Q1 performance followed a positive result for 2020, which saw it increase volumes by 5% despite the impact of Covid.
Sirmax has continued to invest in its
business. In Italy, it has redeveloped and expanded the SER plant at Salso- maggiore Terme, where it produces PCR-based compounds, as well as the Microtec plant at Mellaredo di Pianiga, which produces bio-based film compounds. It is also soon to complete a second plant at Anderson in Indiana in the US, a €20m investment that will focus on its sustainable product lines. “Current trends and figures show the
Above: Sirmax CEO AND Chairman Massimo Pavin
“We are very pleased with these
figures,” said Sirmax CEO and Chair- man Massimo Pavin. “They are the result of a well-defined strategy that has made all the difference in these difficult times of pandemic.”
circular economy is growing at a fast pace,” said Pavin. “At present, the production of green materials accounts for 15% of our total business but there is every reason to believe this figure will increase exponentially…In 2020 we generated about €20m in revenues from biopolymers alone; this year we expect to reach €30m.” �
www.sirmax.com
SI invests $50m in US sites
Above: The new KM extrusion location at Laatzen near Hanover in Germany
KraussMaffei to focus extrusion systems production in Hanover
KraussMaffei is to merge all of its extrusion operations — including compounding — into a single location at Laatzen on the outskirts of Hanover in Germany. Currently, its extrusion activities are spread across sites in Hanover and Munich. The division will begin relocation to the new site — where it is currently building
www.compoundingworld.com
a new R&D centre — in Q2 2022. By Q3 2022 around 700 employees will be based at the 67,000m2
facility. The move is part of the
largest investment pro- gramme in KraussMaffei’s 180-year history, which includes a new 250,000m2 facility for its injection moulding, automation and PU systems activities at
Parsdorf near Munich. The company, which was
acquired by ChemChina in 2016, said that bundling its extrusion activities will result in “substantial product benefits for customers, valuable synergy effects for the company and new opportunities and fields of research for the future”. �
www.kraussmaffei.com
Additives giant SI Group is to invest $50m to increase phenolic antioxidant production capacity across three of its production sites in the US. The company has not disclosed the scale of the expansion but says the move will improve security of supply for its US-based customers while preparing it to meet expected growth in demand resulting from new polyolefin production capacity. The new antioxidant capacity is expected to come online in the second half of 2022. �
www.siigroup.com
June 2021 | COMPOUNDING WORLD 5
IMAGE: KRAUSSMAFFEI
IMAGE: SIRMAX
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