Delays in payment for several large-scale projects have translated into lower than expected pretax earnings at EPS specialist Hirsch Servo (Glanegg / Austria; www.hirsch-gruppe.com) in the 2006/2007 financial year (30 June). Instead of the EUR 5.7m initially forecast, preliminary figures put the group’s pretax earnings at EUR 3.8m (EUR 4.6m in financial 2005/2006), despite record sales of more than EUR 100m (EUR 69m). For 2007/2008, Hirsch expects earnings of EUR 6.5m.

Both the company’s main activities – EPS Processing, and Machinery and Plant Engineering – reported improved results. The packaging business in Poland was weaker. In all, Hirsch expects a solid continuation of its organic growth, especially in eastern Europe. This optimism is based on continuing capital expenditure of customers in the region, predominantly Asian manufacturers of white goods.

After a year’s development Hirsch has brought on stream the prototype of a fully automated plant for manufacturing transport pallets. The one-step production process has been revamped and the moulded part itself redesigned. The core of the composite pallet core is made of EPS, while the basic overall appearance can be tailor-made to the customer’s specifications. In the outside shell, a membrane is moulded from another material, although Hirsch has declined to provide further details at present.