Nolato reports strong operating margins
(Rubber & Plastics News Report)
Torekov, Sweden – Nolato AB reported operating income of about $28.3 million (€21m) and an operating margin of 10.2 percent for the first half of 2013.
The firm said efficiency improvements, a favourable product mix and a flexible cost structure contributed to the strong margin.
Nolato’s reported first-half sales of about $276.8 million. Full-year sales for 2013 were about $657.1 million.
“Strong profitability has been and continues to be the highest priority, and with a strong financial position we have the prerequisites for investing for the future and continue developing together with our customers,” CEO Hans Porat said.
The firm said Nolato Medical has completed a new factory in China, and the expansion to its Hungary plant is proceeding according to plan. Nolato also started a production unit within Nolato Telecom in Malaysia for electromagnetic shielding during the second quarter.
Nolato develops and manufactures products made from polymer materials such as plastic, silicone and thermoplastic elastomers for customers in the medical technology, pharmaceutical, telecoms, automotive, hygiene and other industries.