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

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

Large part molder EnviroTech in 'growth mode,' adds space, equipment

November 26, 2014 9:54 am ET

Salt Lake City-based EnviroTech Molded Products Inc. is adding new equipment and expanding its factory as it gains business in some of its...    More

Image

Huhtamäki selling film division

November 26, 2014 2:10 pm ET

Private equity firm Deutsche Beteiligungs AG (DBAG) will acquire the film business of Finland-based plastics packaging group Huhtamäki Oyj for 141...    More

Image

Visteon in talks to sell its stake in Halla Visteon Climate Control JV

November 26, 2014 9:07 am ET

Visteon Corp. confirmed this morning that it is in discussions with a private equity firm to sell its stake in South Korean joint venture Halla...    More

Image

Globalization brings sizable growth, primarily in Asia

November 25, 2014 1:40 pm ET

In 1990, the year after Plastics News published our first issue, there were 33,000 injection molding machines sold worldwide. Fast forward to 2013,...    More

Image

Uni Cap to build cap molding plant in Jordan

November 25, 2014 12:57 pm ET

The Persian Gulf's largest molder of caps and closures is investing $10 million in a new factory near Amman, Jordan, as part of an effort to boost its...    More

Market Reports

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

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

Plastics in Mexico - State of the Industry Report

This report analyzes the $20 billion plastics industry in Mexico including sales of machinery & equipment, resins and finished products.

Our analysts provide insight on business trends, foreign investment, top end markets and plastics processing activity. The report also provides important data on exports, production, employment and value of plastics products manufactured.

Learn more

Upcoming Plastics News Events

January 14, 2015 - January 14, 2015Plastics in Automotive

February 4, 2015 - February 6, 2015Plastics News Executive Forum 2015

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

September 16, 2015 - September 18, 2015Plastics Caps & Closures - September 2015

October 27, 2015 - October 29, 2015Plastics Financial Summit - New York - 2015

More Events