Sunningdale more optimistic about US and China markets

By Gurdip Singh
Correspondent

Published: February 26, 2013 1:28 pm ET
Updated: February 26, 2013 1:31 pm ET

Related to this story

Topics Automotive, Consumer Products, Injection Molding, Injection molds, Molds/Tooling

SINGAPORE — Sunningdale Tech Ltd. said the United States and Chinese markets seem more positive this year compared to last year, but the company remains concerned about uncertainty in Europe.

"The relatively greater stability of the euro and U.S. dollars against our operating currencies in recent months have helped somewhat to alleviate pricing pressure from customers.

"But the rising cost of raw materials and significant labor cost increases in Malaysia and China, where we have large operations, will continue to squeeze our margins," cautioned Sunningdale CEO Khoo Boo Hor.

"We expect our automotive business to continue to be challenging in 2013. We expect our orders from Europe to remain flat due to European economic uncertainties. Although the U.S. automotive market has shown growth, it has not returned to pre-crisis level yet," he said in the 2012 annual financial report.

The group was awarded several large programs last year but mass production won't begin until 2014, Khoo said.

One of Sunningdale plants has suffered from low utilization as a result of a shift in business by one of the company's major consumer/information technology customers. But Khoo said Sunningdale's efforts to develop new customers have helped to partially close the gap.

For 2012, the Singapore-based tooling manufacturer and injection molder reported a net profit of S$9.56 million (US$7.71 million), up from a loss of S$11.8 million (US$9.52 million) in 2011.

2012 sales were up 5.9 percent to S$451.33 million (US$364.1 million), the company reported Feb. 26.


Comments

Sunningdale more optimistic about US and China markets

By Gurdip Singh
Correspondent

Published: February 26, 2013 1:28 pm ET
Updated: February 26, 2013 1:31 pm ET

Post Your Comments


Back to story


More stories

Image

Comar merging with Convergence Packaging

October 21, 2014 5:07 pm ET

A couple of plastic packaging companies owned by private investment firm Graham Partners are merging into a single entity.    More

Image

BASF targets coffee and automotive connoisseurs with new resin grades

October 21, 2014 2:07 pm ET

BASF SE is using polybutylene terephthalate (PBT), which is normally used to manufacture high-end electronics, in a food consumer packaging product.    More

Image

Report: Suspected former Nazi with plastic connection collecting Social Security

October 20, 2014 3:52 pm ET

AKRON, OHIO — A one-time plastics executive in Akron is among dozens of suspected former Nazis who have been collecting U.S. Social Security...    More

Ford shrinks its supplier 'watch list'

October 20, 2014 1:35 pm ET

Ford purchasing chief Hau Thai-Tang says suppliers are starting to invest in additional production capacity because they think the recovery is real.    More

Molder expands in France with new clean room

October 20, 2014 1:30 pm ET

Global Closure Systems (GCS), a global injection molding producer, showed off its new ISO 7 clean room at its Astra Plastique factory in France during...    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

Plastics in Mexico - State of the Industry Report

This report analyzes the $20 million dollar 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

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

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

More Events