Sunningdale still looking to diversify geographically

By Gurdip Singh
Correspondent

Published: April 18, 2012 6:00 am ET

Related to this story

Topics Mergers & Acquisitions, Consumer Products, Injection Molding, Molds/Tooling

SINGAPORE (April 18, 11:55 a.m. ET) — The ongoing European debt crisis, slower global economy and mixed growth prospects for businesses will continue to challenge Sunningdale Tech Ltd. during this year, Chairman Koh Boon Hwee said.

“[But] the initiative in acquiring the companies in Europe during the year will allow us to serve our customers globally, and while it is still early, we hope to extend our operations beyond the consumer/ IT [information technology] business segment,” he said in the 2011 annual report.

Koh said Singapore-based Sunningdale Tech would continue to diversify geographically. Last year the company acquired Ufe Pte Ltd, ATEC AB of Sweden and Akciju Sabiedriba Atec (AS ATEC) of Latvia.

The company reported that its 2011 sales were to S$402.8 million (US$322.54 million), up 5.8 percent compared to 2010.

The company ended 2011 with a net loss of S$11.4 million (US$9.13 million). Had it not been for losses at Chi Wo Plastic Moulds Fty Ltd. and Ufe Pte Ltd., the company said it would have reported a net profit of S$12.3 million (U$9.85 million) last year, down 10 percent from 2010.

The company blamed the results on the weak U.S. dollar, rising labor and resin costs, price pressure from customers, natural disasters in Japan and Thailand and a slowdown in orders, especially in the consumer/IT businesses.


Comments

Sunningdale still looking to diversify geographically

By Gurdip Singh
Correspondent

Published: April 18, 2012 6:00 am ET

Post Your Comments


Back to story


More stories

Image

Navigating the rough seas of selling your company

April 17, 2014 2:47 pm ET

For family owned plastics firms who survived the Great Recession, many wonder: Is it time to sell, retire and sip cocktails on the beach? Or, maybe...    More

Image

German auto supplier Dr. Schneider opens second US plant

April 17, 2014 12:57 pm ET

Dr. Schneider Kunststoffwerke GmbH, a German supplier of plastic interior auto parts, has opened a $29 million manufacturing plant in Russell Springs,...    More

Image

Envision begins production of compostable, bio-based tablecloths

April 17, 2014 12:17 pm ET

A line of eco-friendly party supplies and tableware now will include compostable tablecloths made by a Wichita, Kan.-based nonprofit that provides...    More

Spain's Cristian Lay Group buys two materials units of bankrupt LSB

April 17, 2014 11:11 am ET

Spanish industrial conglomerate Cristian Lay Group has purchased two of the bankrupt Spanish PET packaging group La Seda de Barcelona.    More

Negri Bossi's new owners may 'bring significant manufacturing' to US

April 16, 2014 1:09 pm ET

Italian plastics equipment major Negri Bossi may “bring significant manufacturing of injection molding machines back to the United States”...    More

Market Reports

Thermoformed Packaging 2014 Market Review & Outlook North America

This in-depth report provides analysis and discussions of economic and political conditions, market trends, legislative/regulatory activity impacting supply and demand, business opportunities and threats, materials pricing, manufacturing technology, as well as strategies being implemented by thermoformed packaging companies. In addition, there are reviews of 25 leading thermoformers in the packaging segment, assessing their growth initiatives and performance metrics over 10 years.

Learn more

Automotive Market Review and Outlook 2014 The Americas

This 75-page report features in-depth analysis of the automotive industry for the Americas. It includes discussions of market trends, legislative/regulatory activity impacting production and threats as well as design strategies being implemented by the major automakers. Detailed charts and data tables outline North American automotive production over the last five years.

Learn more

Plastics Building & Construction Market Review and Outlook 2014 with MS Excel chart data

This report provides in-depth analysis of the plastic building and construction market for North America, including discussions of trends, opportunities, threats and the latest developments in construction trends that impact plastics processors.

Learn more

Upcoming Plastics News Events

May 6, 2014 - May 8, 2014Plastics in Medical Devices 2014

May 12, 2014 - May 12, 2014Plastics News Brazil Pharma Summit

September 10, 2014 - September 12, 2014Plastics Caps & Closures 2014

February 3, 2015 - February 7, 2015Plastics News Executive Forum 2015

More Events