NEWS Trex posts
fall in half- year results
US decking manufacturer Trex has reported an 18% fall in sales for the first half of the year – but sees sales picking up later in 2023. The company, which
makes wood-plastic composite (WPC) prod- ucts, reported sales of US$595 million for the period. This was all through sales of residential products – as it sold its commercial products division in December 2022.
Net profit for the period
exceeded US$118m – a 26% decrease on the corresponding period in 2022. The company said that Q2 sales were down 5% due to inventory building. “We are pleased with our first half performance,” said Bryan Fairbanks, chairman and CEO of Trex. The company expects
full year sales to be slightly above US$1bn – a fall of around 10% compared to 2022. �
www.trex.com
GF piping sees H1 dip in both sales and profits
Georg Fischer Piping Systems (GFPS) has report- ed a dip in its interim results in 2023. The division is the company’s largest, account- ing for around 54% of sales. This year, it reported half-year sales of CHF1,065 million (US$1,168m), nearly 3% lower than the same period last year. It also reported a profit- ability (EBIT) of €141m (US$155m) – a fall of around 11%. The fall in results was ascribed to lower demand in its building technology and gas utility business, along with “geopolitical tensions and a challenging macro- economic environment”. The number of employees in the
Georg Fischer’s pipes division saw sales decline by 3% in the first half of the year
division rose by nearly 3%, to exceed 8,190 people. In April, the division opened a new plant in Yang- zhou in China to make piping systems. For comparison, the
parent company saw flat
sales, while EBIT grew by around 3%. Georg Fischer also looks set to acquire pipes giant Uponor, in a deal that is expected to close before the end of the year. �
www.georgfischer.com
Oldcastle buys in PVC fencing
US-based Oldcastle APG has acquired the PVC fencing, railing and decking assets of CertainTeed. The acquisition includes two manufacturing facilities – in Buffalo, New York and
Orem, Utah. Oldcastle says the deal will strengthen its position in vinyl fencing. “This addition to the Oldcastle APG family helps strengthen our product portfolio and advance our
business,” said Tim Ortman, president, Oldcastle APG. Last year, Oldcastle bought Barrette Outdoor Living, which also makes fencing, railing and decking. �
www.oldcastleapg.com
Orbia Q2 revenues slide across the board
Mexican plastics company Orbia saw Q2 revenues decline in all three of its extrusion-related businesses Pipes manufacturer Wavin reported an 11% fall in sales t US$698 million, and a corresponding 25% dip in profit to US$74m. The fall in sales was driven by lower volumes – especially in Europe – as well as lower prices in some Latin American and Asian markets.
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Profits fell due to the decreased volumes and prices, plus one-time costs related to business optimisation, it said. Irrigation specialist Netafim saw a 10% decline in sales to US$288m – due to slower demand – and a 10% fall in profits to US$41m, due partly to hyperinflation in Turkey and foreign exchange changes. Meanwhile, conduit maker DuraLine
PIPE & PROFILE EXTRUSION | September 2023
saw a more modest sales dip of 6% (to US$338m) due to lower demand – which was partially offset by higher prices. At the same time, profits rose 11% to US$109m, thanks to strong pricing and a stabilisation in material costs. For comparison, the company
overall saw an 18% decline in Q2 sales and a 27% drop in profit. �
www.orbia.com
www.pipeandprofile.com
IMAGE: GEORG FISCHER
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