Paris – Rubber products manufacturer Hutchinson has announced its results for the year ending 31 Dec 2014, stating that its turnover reached €3.46 billion.
Sealing systems brought in the largest chunk of revenue – 41 percent, or €1.419 billion – with insulation business sales covering 34 percent of the total sales at €1.177bn. The remaining 25 percent of sales were generated by is fluid transfer systems activities.
In terms of investment, Hutchinson invested €109 million in 2014 but did not specify the areas of investment.
The company invested 5 percent of its revenues, €171 million into research and development, said Hutchinson.
The largest part of revenue in 2014 was generated in Europe, followed by North America, Asia and South America.
Recent news reports have suggested that parent company Total is expected to sell or spin off Hutchinson.The sale could net around €4 billion for the French oil & gas giant.
In ERJ’s 2014 Global Top 50 Non-Tire Rankings, Hutchinson ranks as the world’s second largest rubber producer, after Continental. This was based on non-tire rubber product sales at Hutchinson in 2013, which came in at €3.1 billion.
Hutchinson produces sealing systems, vibration, acoustic and thermal insulation, fluid transfer systems, transmission and mobility. It employs over 32,500 personnel in its 96 sites spread across 23 countries.
Total acquired a majority stake in the company back in 1974.