After two years of heavy losses, machinery manufacturer Husky Injection Molding Systems Inc. (Bolton, Ontario / Canada; www.husky.ca), has returned to the scene with an impressive set of figures. In the 2003 financial year (31.7), sales jumped to USD 816m (2002: 581m). The previous year´s loss of USD 14m was more than compensated by net earnings of USD 47m. The PET business is mainly responsible for the high growth figures. Husky is one of the world´s leading players in both moulds and injection moulding machinery for preforms.

In North America, sales climbed 35% to USD 339m, with about two thirds of this due to increasing orders involving PET. In Europe, turnover was up 43% to USD 238m. Some 45% of this was due to the strength of the euro, and the rest mainly to the growing market for PET bottles, especially in central and eastern Europe. Sales increased the least in South America, recording a rise of “only” 13% to USD 83m. China´s economic boom has had a positive effect on Husky, too, with Asian sales jumping 74% to USD 155m. About one quarter of this growth was due not to PET but to hot runner systems, reports Husky.

Despite the good figures, the company is cautious about its prospects. In the first two quarters of the current 2004 fiscal year up to the end of January, there could even be slight losses. Husky says that US demand is declining, and even without the euro effect, the European situation is stagnating, although weaknesses in western Europe are being balanced out by gains in central and eastern Europe. The picture is similar in Asia, where the Japanese market is declining after strong PET orders last year, although this is being compensated by improved business in China and Southeast Asia. Based on its experience in recent years, Husky expects higher incoming order volumes and sales in the second half of the financial year, from February to the end of July 2004.

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Detailed Husky report (English) on the 2003 financial year with segment figures as PDF Dokument (316 KB)