Radici reports good sales growth despite dip in Q4

RadiciGroup closed the year 2011 with positive results, including sales revenue 6.5% higher than in financial year 2010.

"All things considered, we are satisfied with our Group’s performance in 2011," stated Angelo Radici, chairman of RadiciGroup, "especially taking into account the unfavourable trend that hit all the major sectors of the world economy to a varying degree. The results achieved by our business areas were better than good, and I want to thank all the people who have worked to make this possible for our Group.

The best performance (+10%) was achieved by our Plastics Business Area, which closed the year 2011 with sales revenue of EUR 259 million. Sales were also on the rise in our Chemicals Business Area, where sales revenue totalled EUR 491 million. What's more, Chemicals celebrated its 25th anniversary last year. Positive results were also reported by Synthetic Fibres, which generated sales revenue of EUR 612 million.

As in the preceding years, we focused on strengthening the vertical integration of our Group production chain: on the one hand we made new acquisitions, invested in plant technology and focused on improving customer service and quality and, on the other hand, we shut down or sold companies that did not fit well with our core business strategy. Here I'm referring to Deufil GmbH in Germany and Caucasian PET Co. in Georgia."

"After the MDE acquisition in 2010, which strengthened our position in the US plastics market and allowed us to increase market share, mainly in the automotive sector," Mr. Radici continued, "last year we concluded the acquisition of the German company dorix GmbH, European leader in the manufacture of nylon 6 staple products, thus strengthening our presence in the polyamide sector.

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