sia Abrasives posts an increase in local currency sales (22/01/2002)
Due to the subdued economic climate worldwide, sia Abrsives had to take a decline of approx. 1.5% in Swiss francs compared to the strong year-earlier level (2000: CHF 225.7 Mio.). Thanks to the successful acquisition in the UK the Group operating internationally increased its sales by approx. 1% in local currency. Prospects in the new precision finish operations are encouraging: at the end of 2001 sia Abrasives applied to patent a novel separation medium for the semiconductor and solar industries.
Due to the subdued economic climate worldwide, sia Abrasives saw drops in sales in 2001. Thanks to the successful acquisition in the UK and to new products launched and new markets opened up, the Group operating internationally but still increased its sales by approx. 1% in local currency. As expected and reported last October, sales after translation into Swiss francs displayed a decline of approx. 1.5%, falling to about CHF 222.3 million (unaudited figure) compared to the strong year-earlier level (2000: CHF 225.7 million). Considering the general trend in the industry, this shows that the sia Group has not lost any market shares but consolidated its market position as the third largest supplier.
Slight decrease in EBIT
Given the volume of sales, sia Abrasives expects EBIT for last year to represent between 9% and 10% of net sales (2000: 10.8%). 2001 net income will be down on the excellent year before. Both the application areas and geographical markets showed mixed trends in the wake of the economic downturn: present across the globe, the sia Group stepped up its sales in the Metal segment, further expanding its market share. In the other application areas, Wood, Panels and ART (Automotive Paint and Bodywork), sia Abrasives saw a fall in sales. In the North American market, the sia Group managed to improve on the prior-year sales level thanks to its well-balanced market strategy and acquisition. Sales in Europe and Latin America were down, however, due to the negative currency trends. In the Asian/Australian markets, sia Abrasives recorded a sharp drop in sales as a result of the general uncertainty following September 11, 2001.
New products for the semiconductor and solar industries
At the end of 2000, sia Abrasives in Frauenfeld set up a new research department for precision finishes. By launching innovative products, it aims to open up new customer segments in the microelectronics and electronic communications growth markets. Gratifyingly, the first successful results of this research can already be seen today: sia Abrasives applied to patent a new separation medium for silicon blocks at the end of 2001. This separation operation is a core process in the manufacture of wafers forming the base for production in the semiconductor and solar industries. sia Abrasives aims to perfect the new products ready for the market before the end of this year.
® Correct nomenclature for sia Abrasives Holding AG
As there are other companies and organizations that use the same abbreviation as our company, we would be grateful if you could help to avoid any misunderstandings by always writing our name as follows: sia Abrasives (never just sia by itself).
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