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

Small is beautiful in Nissei's newest press

November 21, 2014 2:14 pm ET

Responding to customer demand for flexibility, Japanese plastics-equipment manufacturer Nissei Plastic Industrial Co. Ltd. is demoing a caster-...    More

Image

Three advancements have driven injection molding technology

November 21, 2014 6:00 am ET

Injection molding technology has made major advances in the last 25 years, from largely a world of shoot-and-ship to doing as much as possible at the ...    More

Image

Netstal, Electra Form team up for PET preform partnership

November 20, 2014 3:15 pm ET

The Netstal division of Krauss-Maffei Corp. is teaming up with Electra Form Industries in a partnership to offer PET preform machines and molds as a...    More

Image

High pressure RTM systems moving from Europe to Mexico

November 20, 2014 4:24 pm ET

Engel Holding GmbH's subsidiary in Mexico says it has sold the first high pressure resin transfer machine system (HP-RTM) in the Americas to a...    More

Image

Thomson Plastics opens N.C. plant

November 20, 2014 3:12 pm ET

Custom injection molder Thomson Plastics Inc. has opened a new manufacturing facility in Lexington, N.C.    More

Market Reports

Plastics in Brazil - State of the Industry Report

This in-depth report examines the Brazilian plastics industry from a historical and geographical context. Our analysts provide insight on economic trends and forecasts, growing manufacturing sectors that utilize plastics, private investment opportunities, market environment challenges, and innovations in R&D.

Data tables and charts on producer prices, trade, plastics production and end market indicators is also included.

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

Injection Molders Market Report & Ranking 2014

This special package contains our 132-page 2014 Market Report on the Injection Molding segment and our exclusive 2014 RANKINGS database of 500+ Injection Molders for a discounted package price.

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