Adval Tech is forecasting a 4-7% rise in revenues this year, accompanied by improved earnings. Revenues will be boosted by several large automotive projects that are scheduled to reach full production this year, it said. The company plans to narrow its area of business and focus on selected fields of activity with a global reach. But while it now has a worldwide presence, thanks to acquisitions and collaborations, implementing the new strategy is taking longer than planned in the current economic environment.
"Thanks to innovative technologies and an above-average range of products and services along the entire value chain, we currently have great potential for development in all of our areas of activity worldwide," said interim CEO Stephan Mayer. However, all business areas require significant investments, which the company cannot afford to make all at once, he explained.
Adval Tech is simplifying its organisation structure by dividing the company into the areas components and moulds. It also announced the appointment of René Rothen, head of the automotive segment, as the new CEO. Rothen will replace Mayer later this year.