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Synthetic fibres sales revenue up at RadiciGroup
08 Feb '11
5 min read
“Throughout these difficult times, we have never stopped investing to strengthen our position in the chemicals, plastics and synthetic fibres fields,” concluded Mr. Radici, “just as we have never stopped standing behind and supporting our customers. We have always worked to ensure the utmost reliability even at the most critical moments, which we have managed to get through mostly because of the work and commitment of all the people who work for RadiciGroup companies.
“And I would like to take this opportunity to thank all of them for their efforts. During the three years from 2008 to 2010 we invested EUR 80 million. In 2011 we plan to invest EUR 36 million to bolster the Group's vertical integration and, most significantly, to improve our plant and technology so as to make them more efficient and flexible.
“We want to have the capability to respond effectively to the needs of the market, which has become more demanding, not so much in terms of volume, but in product differentiation and customization. Furthermore, we have to make sure that all our business areas stay competitive and innovative in a sustainable way. This has always been a major part of the strategic approach guiding the Group's decisions and will become even more important in the future.”
“We are very satisfied with our 2010 results,” said RadiciGroup CFO Alessandro Manzoni. “Our Group started to feel the effects of the crisis in the first months of 2008, well before companies in other industries. However, we were able to react immediately, by focusing our attention on asset management and using our financial resources to their best advantage.
“This allowed us to fully meet our commitments to stakeholders. Our relations with financial institutions have always been based on full transparency and promptness in disclosure and communications. During the crisis, a key factor was the strong relationship and trust established over the years. Although we were not under financial pressure to make extraordinary agreements with our banks, their support and high regard were clearly invaluable in our ability to work confidently on managing Group operations. Our efforts in past years have been repaid and today the Group's financial condition is absolutely solid.”
“Nevertheless, 2011 will not be an easy year,” concluded Mr. Manzoni. “Passing down continual raw materials price increases is becoming more and more difficult, as is making medium-term forecasts for our target markets. Still, we believe that we will be able to achieve good results in 2011, even if our profits are lower compared the results of an exceptional 2010.”
RadiciGroup is one of Italy's leading chemicals multinationals, a diversified group specializing in chemicals, plastics and synthetic fibres. Among the Group's key strengths is the synergistic vertical integration of its polyamide production chain. RadiciGroup products are exported all over the world and are widely used in applications such as apparel, sports, furnishings, automotive, electrical/electronics and household appliances.
“And I would like to take this opportunity to thank all of them for their efforts. During the three years from 2008 to 2010 we invested EUR 80 million. In 2011 we plan to invest EUR 36 million to bolster the Group's vertical integration and, most significantly, to improve our plant and technology so as to make them more efficient and flexible.
“We want to have the capability to respond effectively to the needs of the market, which has become more demanding, not so much in terms of volume, but in product differentiation and customization. Furthermore, we have to make sure that all our business areas stay competitive and innovative in a sustainable way. This has always been a major part of the strategic approach guiding the Group's decisions and will become even more important in the future.”
“We are very satisfied with our 2010 results,” said RadiciGroup CFO Alessandro Manzoni. “Our Group started to feel the effects of the crisis in the first months of 2008, well before companies in other industries. However, we were able to react immediately, by focusing our attention on asset management and using our financial resources to their best advantage.
“This allowed us to fully meet our commitments to stakeholders. Our relations with financial institutions have always been based on full transparency and promptness in disclosure and communications. During the crisis, a key factor was the strong relationship and trust established over the years. Although we were not under financial pressure to make extraordinary agreements with our banks, their support and high regard were clearly invaluable in our ability to work confidently on managing Group operations. Our efforts in past years have been repaid and today the Group's financial condition is absolutely solid.”
“Nevertheless, 2011 will not be an easy year,” concluded Mr. Manzoni. “Passing down continual raw materials price increases is becoming more and more difficult, as is making medium-term forecasts for our target markets. Still, we believe that we will be able to achieve good results in 2011, even if our profits are lower compared the results of an exceptional 2010.”
RadiciGroup is one of Italy's leading chemicals multinationals, a diversified group specializing in chemicals, plastics and synthetic fibres. Among the Group's key strengths is the synergistic vertical integration of its polyamide production chain. RadiciGroup products are exported all over the world and are widely used in applications such as apparel, sports, furnishings, automotive, electrical/electronics and household appliances.
RadiciGroup
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