VETROTEX
New international business units / Expansion in Asia / Group sales of FFR 4.7bn
To strengthen its global presence, GRP specialist Vetrotex International SA (PO Box 929, F-73009 Chambery Cedex) has created two international business units, "Twintex" for the development of thermoplastic composite applications and "Cem-FIL" for cement reinforcement. Like the three dedicated BUs set up in 1996, the two international units will be part of the Textiles, Thermoplastics and Reinforcement divisions established last year to make the company more responsive to customer demands and technology requirements. With operations in North and South America as well as Europe and Asia, Vetrotex is firming up its position as a global player in all segments of the composites markets, Roberto Caliari, president of the reinforcement division of parent company Saint-Gobain, said at a press conference in Madrid.
Increasing attention will be directed this year towards Asia, where Vetrotex is aiming for a 20% stake – apart from Japan. The proportion of sales in the Pacific Rim is set to rise to 11%. Mangement's strategy reflects the growing importance of the GRP market in Asia, which is believed to have accounted for nearly 25% of the world market in 1996. Consumption last year increased 9% to 1.5m, with Korea growing by 24%, Taiwan by 20%. Growth in Japan was only 5%. Reinforcement for thermoset resins accounted for 50%, reinforcement for thermoplastics 24% and textile applications 26%.
For 1996, Vetrotex reported total sales of FFR 4.7bn, including FFR 2.4bn in Europe. About half its 5,000-strong workforce was based in Europe. Flanking the targeted Asian stake, some 34% of sales in 1997 are expected to come from North America, 4% from South America and 2% from Africa, the Middle East and the Indian subcontinent. Operating income was expected to improve in 1996 against 1995. Spending on tangible capital assets for 1997 is targeted at 7% of sales, following a record 15% in 1996.
READER SERVICE: Comprehensive Vetrotex press information on 1996 and projections for 1997, including GRP world market data (English): PIE-No. 40761.
Increasing attention will be directed this year towards Asia, where Vetrotex is aiming for a 20% stake – apart from Japan. The proportion of sales in the Pacific Rim is set to rise to 11%. Mangement's strategy reflects the growing importance of the GRP market in Asia, which is believed to have accounted for nearly 25% of the world market in 1996. Consumption last year increased 9% to 1.5m, with Korea growing by 24%, Taiwan by 20%. Growth in Japan was only 5%. Reinforcement for thermoset resins accounted for 50%, reinforcement for thermoplastics 24% and textile applications 26%.
For 1996, Vetrotex reported total sales of FFR 4.7bn, including FFR 2.4bn in Europe. About half its 5,000-strong workforce was based in Europe. Flanking the targeted Asian stake, some 34% of sales in 1997 are expected to come from North America, 4% from South America and 2% from Africa, the Middle East and the Indian subcontinent. Operating income was expected to improve in 1996 against 1995. Spending on tangible capital assets for 1997 is targeted at 7% of sales, following a record 15% in 1996.
READER SERVICE: Comprehensive Vetrotex press information on 1996 and projections for 1997, including GRP world market data (English): PIE-No. 40761.
15.04.1997 Plasteurope.com [19451]
Published on 15.04.1997