Sunningdale still looking to diversify geographically

By Gurdip Singh
Correspondent

Published: April 18, 2012 6:00 am ET

Related to this story

Topics Consumer Products Mergers & Acquisitions Injection Molding Molds/Tooling
Companies & Associations

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

Economic déjà vu: strong spring growth expected after a rough winter

April 15, 2015 2:03 pm ET

The long, harsh winter is finally over, and the first quarter of the calendar is history. So now is an appropriate time to review the emerging trends ...    More

Image

Inteplast buys Canadian film maker Haremar, bag maker El-En

April 13, 2015 4:29 pm ET

Inteplast Group has increased its business in Canada with the acquisition of a specialty polyethylene blown film coextruder.    More

Image

Rubber molder digging up more business with addition of injection molding

April 10, 2015 9:20 am ET

Jefferson Rubber Works Inc. got a taste of the plastics industry in 2014 and sees bigger things on the horizon.    More

Image

Injection molder Sussex IM adds space, people in $1 million expansion

April 7, 2015 1:48 pm ET

Sussex IM has expanded its facility by 12,000 square feet and added 12 percent to its staff as part of a project valued at more than $1 million.    More

Market Reports

Plastics Recycling Trends in North America

This report is a review and analysis of the North American Plastics Recycling Industry, including key trends and statistics based on 2013 performance. We examine market environment factors, regulatory issues, industry challenges, key drivers and emerging trends in post-consumer and post-industrial recycling.

Learn more

Injection Molding Market Analysis & Processor Rankings

Plastics News BUNDLED package contains our in-depth Market Analysis of the Injection Molding segment. You will gain keen insight on current trends and our economic outlook.

As a BONUS this includes PN's updated 2014 database of North American Injection Molders RANKED by sales volume. Sort, merge, mail & prospect by end market, materials processed, region, # of plants and more.

Learn more

Plastics Caps & Closures Market Report

The annual recap of top trends and future outlook for the plastics caps & closures market features interviews with industry thought leaders and Bill Wood’s economic forecast of trends in growing end markets. You will also gain insight on trends in caps design, materials, machinery, molds & tooling and reviews of mergers & acquisitions.

Learn more

Upcoming Plastics News Events

June 2, 2015 - June 3, 2015Plastics Financial Summit - Chicago 2015

September 15, 2015 - September 17, 2015Plastics Caps & Closures - September 2015

More Events