ERJ staff report (LMH)
Newmarket, Canada - Sales at AirBoss of America were up by 37 percent in the first quarter, and net income grew by 53 percent, the rubber mixing company said in an 11 May report.
Net sales for the three months ended 31 March 2011 were $70.2 million (euro 49 million) from $51.1 million during the same period in 2010. Net income increased by 53 percent to $4.3 million compared to $2.8 million in the previous year. AirBoss attributed these increases to the strong performance of its rubber compounding business.
Compounding volumes increased by 53 percent compared to 2010 and AirBoss said these increases were felt in all sectors, with the largest being in major tyre, automotive and belting. Tolling mixing for major tyre companies accounted for 21 percent of overall mixing volumes, the company said, adding that sales of rubber compound are expected to remain strong for the next quarter and beyond.
AirBoss added that sales continued to be strong for chemical biological radiological nuclear (CBRN) protection as the defence division produced against previously received orders. The company said existing US orders for CBRN gloves and boots will maintain sales at roughly these levels until the end of September, but that orders beyond that date will be dependent on government funding.
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Press release from AirBoss of America