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

Enor expanding in S.C., moving toy production to U.S. from China

August 20, 2014 4:01 pm ET

Wal-Mart Stores Inc. has convinced toy producer Enor Corp. to expand U.S. production at the expense of sourcing from China.    More

Image

Ply Gem continues acquisition streak, buying Simonton for $130 million

August 20, 2014 2:33 pm ET

Building materials manufacturer Ply Gem Holdings Inc. will acquire Simonton Windows from Fortune Brands Home & Security in a $130 million deal that...    More

Image

Has the current M&A cycle peaked?

August 20, 2014 11:55 am ET

Plastics M&A veteran Thomas Blaige has called the peak of the current investment cycle.    More

Image

Venture Plastics adds 720-ton press

August 20, 2014 2:03 pm ET

Venture Plastics Inc. expanded its El Paso, Texas, custom molding facility in early summer to grow sales.    More

Image

Ohio molder sold to private equity firm

August 19, 2014 5:23 pm ET

Private equity firm TVV Capital of Nashville has acquired injection molder Design Molded Plastics Inc. for an undisclosed price.    More

Market Reports

Thermoformed Packaging 2014 Market Review & Outlook North America

This in-depth report analyzes economic and market trends, legislative/regulatory activity impacting supply and demand, business opportunities and threats, materials pricing, manufacturing technology, as well as growth strategies being implemented by thermoformed packaging companies.

Learn more

Pipe, Profile & Tubing Extrusion in North America 2014

U.S. demand for extruded plastics is expected to grow by 3 percent in 2014, with PVC remaining the largest segment.

Plastic pipe will post the strongest gains through 2018, continuing to take market share from competing materials in a range of markets.

Our latest market report provides in-depth analysis of current trends and their financial impact on the pipe, profile and tubing extrusion industry in North America.

Learn more

2014 Injection Molding Industry Report

GROWTH, OPPORTUNITY IN SIGHT FOR INJECTION MOLDERS IN 2014

In the wake of the economic turbulence earlier in this decade, molders today find themselves in much better shape. Molders are gaining a competitive advantage by investing in people, equipment and seeking inroads into new markets on a global scale.

Growth in the injection molding industry is going to be driven by low financing costs and a continued move to reshore some business.

Learn more

Upcoming Plastics News Events

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

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

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

More Events