Series Production Continues to Increase New Installation Discussions at Advanced Stages
(Thomson Reuters ONE) -
* October production increases by 10% to new high of 1.2 million Engine
Equivalents
* Series production increases by 33% during 2010 and by 140% year-on-year
* New Installation discussions at advanced stages in Europe, Asia and the
Americas
* Positive cashflow forecast for 2010, with further progress in 2011
[Stockholm, 25 November 2010] - Annualised series production grew by 10% during
October to set a new all-time high of 1.2 million Engine Equivalents (60,000
tonnes/year). The series production for October represents the sixteenth
consecutive month with increasing production, providing 33% growth thus far
during 2010 and a 140% year-on-year increase. While many car and truck OEMs and
automotive suppliers show positive year-on-year growth relative to the extreme
lows of 2009, volumes are still below pre-downturn levels. In contrast,
SinterCast's current volumes are 60% above the pre-economic downturn high of
750,000 Engine Equivalents established in September 2008. This shows that
SinterCast's growth is primarily fuelled by new series production commitments,
and not only by the wider market recovery.
Since mid-2010, SinterCast has experienced a clear renewal in field trials and
new installation discussions as improving market conditions have enabled
foundries to implement new investment strategies. Trials have been conducted in
Europe, Asia and the Americas during the second half of 2010 and installation
discussions are at an advanced stage with several customers. The installation
outlook for 2011 is the highest in more than a decade and the prospect remains
for two new installation commitments before the end of 2010.
"Every key indicator for SinterCast, including field trials, installation
negotiations, consumables shipments and series production is showing positive
growth and a positive outlook for the future. The current series production has
provided the basis for a full-year positive cashflow result while continued
ramp-up and a strong outlook for new installations provide the basis for further
growth in 2011" said Dr. Steve Dawson, President & CEO of SinterCast. "The
successful growth, combined with the recent increase in field activities and
continued positive feedback from our customers regarding the robustness of our
technology and the appreciation of our engineering service, provide a deep
source of motivation for the employees as we approach what promises to be a very
busy 2011."
For more information, please contact:
Dr. Steve Dawson
President & CEO
SinterCast AB (publ)
Tel: +46 8 660 7750
e-mail: steve.dawson(at)sintercast.com
Website: www.sintercast.com
SinterCast is the world's leading supplier of process control technology for the
reliable high volume production of Compacted Graphite Iron (CGI). With at least
75% higher tensile strength, 45% higher stiffness and approximately double the
fatigue strength of conventional grey cast iron and aluminium, CGI allows engine
designers to improve performance, fuel economy and durability while reducing
engine weight, noise and emissions. SinterCast produces a variety of CGI
components ranging from 2 kg to 17 tonnes, all using the same proven process
control technology. The end-users of SinterCast-CGI components include Aston
Martin, Audi, Caterpillar, Chrysler, DAF Trucks, Ford, Ford-Otosan, General
Electric Transportation Systems, General Motors, Hyundai, Navistar, Jaguar, Kia,
Land Rover, MAN, Porsche, PSA Peugeot-Citroën, Renault, Rolls-Royce Power
Engineering, Toyota, Volkswagen, Volvo and Waukesha Engine. The SinterCast share
is quoted on the Small Cap segment of the NASDAQ OMX stock exchange
(Stockholmsbörsen: SINT).
- END -
[HUG#1465699]
Press Release PDF:
http://hugin.info/1205/R/1465699/403780.pdf
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Source: SinterCast via Thomson Reuters ONE
Unternehmensinformation / Kurzprofil:
Datum: 25.11.2010 - 15:01 Uhr
Sprache: Deutsch
News-ID 49122
Anzahl Zeichen: 4751
contact information:
Town:
Stockholm
Kategorie:
Business News
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"Series Production Continues to Increase New Installation Discussions at Advanced Stages"
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