NEWS
Currency fluctuations blunt profits at Simona
German extrusion specialist Simona reported higher sales in 2017 – but said that profits were dragged down by currency fluctuations. The company posted a
7.5% increase in sales to €394m (US$476m) in 2017, and saw revenues grow in all regions during the year. Growth in Europe ap- proached 5%, and was particularly strong in Spain, Italy and the UK. Sales in the US rose more than 5%, while those in Asia boomed by more than 50%.
Sales in the pipes and
fittings division grew, but at a slower rate than Simona had expected. Overall, the division grew by more than 4% to exceed €80m (US$476m). This was partly
maintain a solid level of prof- itability in this division,” said Wolfgang Moyses, CEO. Despite expanding sales,
profitability (EBIT) fell by 12% to €26.5m (US$32m). “Negative currency effects
Moyses: “Negative currency effects affected earnings, particularly in Europe”
down to subdued civil engineering business, and a lack of lignite processing projects in Germany. “Embracing a new
strategy for pipes and fittings, we are looking to expand revenue and
of almost €6m (US$7m) proved an obstacle to achieving higher earnings, particularly in Europe,” said Moyses. “Profitability in the US, which had already been good, was raised further.” The company has already announced preliminary results for the first quarter of 2018: sales of just under €99m, which is comparable to the same period last year. EBIT, at €8.4m, was also unchanged compared to last year. �
www.simona.de
Cosmo starts operations in Poland
India’s Cosmo Films recently set up in Poland to sell its BOPP and CPP films there. “Poland is the biggest market for packag-
ing grade film in Central and Eastern Europe and a convenient location,”said Daksh Malik, head of sales and operations for Eastern
Europe at Cosmo Films. The company will focus on its speciality
products in the region – including barrier and lidding films, acrylic and PVDC coated films and metallised BOPP. �
www.cosmofilms.com
Constantia to double
India sales Constantia Flexibles says it will double sales in India in the next five years, following a recent takeover and expansion plans for its existing businesses there. Taking a major stake in
Creative Polypack has made Constantia India’s third largest flexible packaging group, giving it sales of around €200m (US$239m) by 2022. Alexander Baum-
gartner, Constantia Flexibles CEO, said: “Our production footprint covers the whole of the Indian subcontinent.” Its existing Indian subsidiary, Parikh Packaging, is investing a double-digit million Euro amount in a new green- field site in Ahmedabad, to make polyethylene blown film from 2019. Flexible packaging in
India is expected to grow by more than 10% in the next five years, says the company. �
www.cflex.com
Chinaplas 2018 concludes record-breaking event
This year’s Chinaplas show has concluded, with organiser Adsale saying that this year’s show hosted 3,948 exhibitors from 40 countries and regions. The event, held this year on 24-27 April, has been running since 1983. “For the first time, Chinaplas’ scale exceeds 300,000 sq m – an indicator of the massive demand for new technologies,” said Stanley Chu, chairman of Adsale.” The show was hosted in the National Exhibition and
Convention Center (NECC) in Hongqiao, Shanghai for the first time this year. �
www.chinaplasonline.com
8 FILM & SHEET EXTRUSION | May 2018
www.filmandsheet.com
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