Adval Tech (Niederwangen / Switzerland; www.advaltech.com) considers itself well on track with its restructuring activities. To sustain this course in the long term, the automotive supplier wants to close down its production site at Uetendorf / Switzerland by the fourth quarter of 2018 and shift part of its production to its plant in Szekszárd / Hungary.

Previous restructuring and synergy measures have already been fruitful. In the first half of 2017, net income climbed to CHF 3.7m (EUR 3.4m) against CHF 2.2m in H1 2016. EBIT increased by 30% to CHF 4.8m, even as overall performance went down by 8% to CHF 102m. Considering these figures, two points should be noted for comparisons with H1 2016. For one, the Molds segment that was sold in 2016 is not included in 2017’s results. For another, the results of its takeover of Fischer IMF are included in 2017's results, which contain consolidated financial statements from April 2016 onwards.

In the meantime, Adval Tech has acquired a new customer for its plastic components for the automotive industry segment in the first half of 2017. The client appears to be a player from the VW group and Adval Tech will manufacture air guidance systems for them. Start of production is planned for 2019 in Hungary. Adval Tech could also secure a contract for the production of plastic oil control parts from another automotive OEM; these will likewise be manufactured in Hungary as of 2018.

Adval Tech is also currently investing in infrastructure at several locations. For instance, the company is buying new presses in Brazil and Germany and additional injection moulding machines for its Mexican plant. At the start of 2017, Adval Tech has also split its Hungarian subsidiary into two legally independent companies, with the plastics segment remaining under its previous name of Adval Tech (Hungary).