MELBOURNE, AUSTRALIA - Sales at the North American plastics operations of Australian diversified manufacturer BTR Nylex Ltd. were major contributors to a pre-tax profit increase of 26.2 percent to A$869.3 million (US$625.5 million) for the 1994 calendar year. Graeme Pearson, managing director of Melbourne-based BTR Nylex, said the U.S. operations, Continental PET Technologies Inc. in Florence, Ky., and Westlake Styrene Corp. of Houston, recorded outstanding performances. BTR Nylex is a subsidiary of BTR plc, which is headquartered in London.
Continental PET's contribution to profit was A$46.2 million (US$33.2 million) and Westlake Styrene contributed A$7.9 million (US$5.68 million).
Worldwide, BTR Nylex's sales grew 7.4 percent to A$6.68 billion (US$4.81 million), with North American sales, including plastic, steel, concrete and building products, contributing A$1.27 billion (US$913.8 million), up from A$1.12 billion (US$805.8 million) in 1993, the company reported.
North American operations recorded profit of A$207.8 million (US$149.5 million), up from A$148.6 million (US$106.9 million), the company said.
BTR Nylex's Australian divisions, which account for about half of the company's business, increased sales to A$3.3 billion (US$2.37 billion) from A$463.9 million (US$333.8 million) from the year before.
Pearson said major capital investment programs for 1995, worth about A$2 billion (US$1.44 billion), include additional Continental PET facilities and downstream equipment for BTR Nylex's polymer business in Taiwan.
Continental PET is currently constructing a 120,000-square-foot manufacturing facility in Cartersville, Ga., and the company recently moved into a new, 18,000-square-foot plant in Bedford, N.H.