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, Molds/Tooling, Injection molds

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

Austria's Greiner building a foothold in the US rigid packaging market

April 15, 2014 1:22 pm ET

Greiner Packaging International GmbH, one of Europe's largest makers of rigid plastic packaging, now wants to make its mark in the United States.    More

Image

SodaStream turns to PET for its new pre-measured flavor 'Caps'

April 15, 2014 1:40 pm ET

SodaStream International Ltd., maker of home beverage carbonation systems, is using plastic to bring more flexibility to its consumers.    More

Mexico reports rising auto production

April 14, 2014 1:18 pm ET

MEXICO CITY — Mexico’s automotive industry assembled an unprecedented 774,731 light vehicles in the first quarter, 6.5 percent up on the...    More

Image

Engel creates new Wintec brand for Asia

April 11, 2014 2:17 pm ET

Engel Holding GmbH has formed a new subsidiary in China that will sell injection molding machinery in Asia under a new brand name: Wintec.    More

Image

Lanxess launches new compounding plant in Brazil aimed at auto market

April 11, 2014 12:32 pm ET

Lanxess AG has officially opened its auto-oriented thermoplastics compounding plant in Porto Feliz, Brazil.    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