By Liz White, ERJ staff
Retford, UK-British rubber part supplier Icon Polymer Group has achieved a 32-percent rise in pretax profits on sales of more than Â£22 million ($39 million) for 2003, and said it may make an acquisition to push turnover up substantially next year.
Icon is now â€œcomfortably in line to achieve its five-year plan to create a global Â£50-million specialist rubber manufacturing business,â€ according to a company statement.
The 2003 results include a full year's figures from the ContiTech brake chamber diaphragm business which Icon bought in June 2002, said Icon.
They also show the huge increase in production and sales costs which Icon has achieved through a Â£4-million investment programme, designed to make the group's central Retford site into â€œan international centre of manufacturing excellence,â€ the maker of automotive, aerospace and pharmaceutical parts commented.
â€œWe have a number of strategic acquisition targets clearly in sight,â€ said Icon managing director Richard Gogerty, adding, â€œI expect to be able to make some exciting announcements within the next 12 months.â€