PERLOS
Business operations to become independent / Withdrawal from Hong Kong acquisition
The Finnish injection moulding company Perlos (FIN-01511 Vantaa; www.perlos.com) will incorporate its former business operations, the “Telecommunications and Electronics Industry” and “Pharmaceutical industry” units, into independent companies by the end of 2003 at the latest. According to Perlos´ CEO Timo Leinilä, this latest move aims at improving the service for the individual OEM industries.
Despite a clear upward trend in the second half, Perlos posted a reduced turnover of EUR 365m (432m) for the whole year 2002 and a sharp drop in the operative result of EUR 1.4m (53). The telecommunications unit contributed 86% of total sales, representing EUR 313m. The greatest losses were incurred by the recently acquired Swedish electronics company Moteco and gigaAnt. Revenues in the medical engineering sector rose by 4% to EUR 38.4m.
Plans for the acquisition of the Chinese manufacturer of injection moulds Ace (PIE 24, 2002) of Hong Kong were abandoned at the end of January. Both companies decided to reinforce their existing business co-operation instead. Ace has now become Perlos´ “key supplier” in the expanding Chinese market.
Despite a clear upward trend in the second half, Perlos posted a reduced turnover of EUR 365m (432m) for the whole year 2002 and a sharp drop in the operative result of EUR 1.4m (53). The telecommunications unit contributed 86% of total sales, representing EUR 313m. The greatest losses were incurred by the recently acquired Swedish electronics company Moteco and gigaAnt. Revenues in the medical engineering sector rose by 4% to EUR 38.4m.
Plans for the acquisition of the Chinese manufacturer of injection moulds Ace (PIE 24, 2002) of Hong Kong were abandoned at the end of January. Both companies decided to reinforce their existing business co-operation instead. Ace has now become Perlos´ “key supplier” in the expanding Chinese market.
06.03.2003 Plasteurope.com [14949]
Published on 06.03.2003