Swiss automotive industry supplier Adval Tech (Niederwangen; www.advaltech.com) says the Ukraine war and associated sanctions against Russia are exacerbating availability issues for parts and raw materials at carmakers, but the company is still anticipating a good order situation as it deals with a high level of planning uncertainty and impending production interruptions. Because of the situation, the company plans to cut costs and curtail investments, and Adval Tech has not provided a detailed outlook for 2022.

Last year, the supplier of metal and plastic components and assemblies said it benefited from new orders and projects despite the Covid-19 restrictions and serious delivery bottlenecks. It reported that total income rose 21% to CHF 170.8 mn (EUR 166.8 mn), EBIT increased 37% to CHF 9.2 mn, and net income grew 37% to CHF 5.9 mn.

Within the company’s plastics division, the group has doubled the production area at its Mexican plant in Querétaro to around 6,600 m². In the next few years, the workforce there is to be increased to 150 to 200 from the current 70.