Home / Knowledge / News / Textiles / Ciba Specialty delivers net income of CHF 237 mn
Ciba Specialty delivers net income of CHF 237 mn
12
Feb '08
Ciba announces Financial Results for full year 2007. Armin Meyer, Chairman of the Board, comments: “We are seeing the results of the strategic repositioning of the Company and its focused portfolio, with a 4 percent improvement in operating income before restructuring and CHF 237 million of net income in 2007.

As of January 1, 2008, Brendan Cummins took over as the new Chief Executive Officer, leading Ciba into the future, together with a strong team, including the new CFO Jürg Fedier, and the recently appointed Head of the Coating Effects Segment, Thomas Engelhardt.”

Brendan Cummins, Chief Executive Officer, comments: “We made important progress in 2007, improving our financial performance and implementing the Operational Agenda. The new SAP system is now up and running in around 80 percent of the Company and we have further streamlined our operations and developed a new concept for innovation.

The key priorities for 2008 are margin management and ensuring we achieve optimal value for our products. We will maintain our cost reduction efforts and continue a differentiated approach on prices and volumes, with selective price increases, as well as volume growth strategies to gain market share where appropriate. In addition, we will withdraw unprofitable product ranges in order to improve margins. With a new approach to innovation, we will focus more effectively on technologies with the highest growth and profit potential.

We are anticipating that 2008 will be another demanding year for the specialty chemicals sector, as the outlook for the economy is uncertain and raw material costs are expected to remain high, but I am confident we will nevertheless continue to deliver improvements in our cost structure and profitable growth in our chosen markets.”

Must ReadView All

L-R Manish Singhai, COO, Peter England; Vinai Kumar Saxena, chairman, KVIC; Ashish Dikshit, business head, ABFRL and Anshu Sinha, CEO, KVIC while signing agreement. Courtesy: ABFRL

Textiles | On 24th May 2017

Aditya Birla & KVIC enter into a strategic partnership

Aditya Birla Fashion and Retail Ltd (ABFRL) and Khadi and Village...

Courtesy: Jabong

Apparel/Garments | On 24th May 2017

Jabong Mood Store redefines online shopping in India

Jabong, India's leading online fashion retailer, has launched the...

Textiles | On 24th May 2017

Starlinger unveils FX 8.0 circular loom for fabric making

Starlinger, a leading supplier of machinery for woven plastic...

Interviews View All

Pratik Bachkaniwala
Palod Himson Machines

Fabric processing machines are picking up

Yashiki Gumber
Sahiba Fabrics

Fabric does not restrict us from fashion trends

Yash Agarwal
Hitansh Online

Every market region has its own culture and trends

Kerem Durdag
Biovation II LLC

Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...

Marten Alkhagen
Swerea IVF AB

Marten Alkhagen, Senior Scientist - Nonwoven and Technical Textiles of...

Iago Castro Asensio
RCfil Distribuciones S.L.

Iago Castro Asensio, International Business Manager of RCfil...

Pranav Mishra
Huemn

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

Silvia Venturini Fendi
Fendi s.r.l

"Yes, my confidence and positive attitude are my strengths and should be...

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer <b>Prathyusha Garimella</b> is known for blending ...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

news category


Related Categories:
May 2017

May 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search