Home / Knowledge / News / Textiles / Synthetic fibres sales revenue up at RadiciGroup

Synthetic fibres sales revenue up at RadiciGroup

08
Feb '11
RadiciGroup, an industrial multinational engaged in the chemicals, plastics and synthetic fibres businesses, closed the year 2010 with preliminary financial results, as follows:

• Consolidated sales revenue of EUR 1,162 million (+50% compared to 2009)
• Gross operating margin of EUR 140 million (+185% compared to 2009)

Sales revenue for all RadiciGroup business areas rose, compared to the prior year:

• Chemicals: +61%
• Plastics: +78%
• Synthetic fibres: +38%

RadiciGroup, an Italian multinational engaged in chemicals, plastics and synthetic fibres, with production and sales sites in Europe, North America, South America and Asia achieved consolidated sales of EUR 1,162 million in 2010, an increase of 50% compared to financial year 2009 (+26% over 2008 and +7% over 2007).

The RadiciGroup gross operating margin for 2010 was EUR 140 million (12% of sales) against EUR 49 million of the prior year, thus registering an increase of 185%. Sales revenues for each of the Group business areas rose:

Chemicals: EUR 467 million
PA6 and PA66 polymers, adipic acid, hexamethylenediamine, AGS dicarboxylic acid mixture, nitric acid, KA oil, esters;
PET preforms
KEY BRANDS: Radipol - Radichem - Starlight

Synthetic fibres: EUR 570 million
PA6 and PA66 yarn, PA6 staple fibre, PET yarn and fibre, BCF and high-tenacity BCF yarn, acrylic yarn and top, polyolefin and polyamide artificial grass yarn, and elastane yarn. Additionally, RadiciGroup makes spunbond nonwovens.
KEY BRANDS: Radilon - RadiciNylon - Radyarn - Starlight - Micrell - Micralon - Nanofeel - Radifloor - Raditeck - Crylor - Radigreen - Radelast - Dylar

“The Group's performance in 2010 was really outstanding,” stated RadiciGroup Chairman Angelo Radici. “Our sales grew over 60% in the chemicals sector and almost 80% in plastics. Even fibres sales rose by 38%. In spite of the unfavourable raw materials environment in which prices continued to climb during 2010, our margins improved. At the world level we experienced a recovery in demand, and in our key businesses we either maintained or increased our market share.

“In Europe, our most important sales region, we managed to grow by benefiting, on one hand, from a greater imbalance in supply and demand on account of a number of restructurings in the chemicals and fibres industries and, on the other, from an increase in demand. Sales also increased in Asia and in the Americas, particularly North America, where we strengthened our position thanks to the acquisition of American compounder Michael Day in January 2010.”

“In the course of the years we have maintained a constant level of commitment focusing on our strategic businesses,” continued Mr. Radici. “To contend with the difficult two-year period 2008 - 2009, we had to expend extra effort and make choices that were often not easy: from the closing of some businesses, considered to be lessstrategic and less integrated with respect to our core businesses, to the reorganization of production sites, in some cases resorting to the use of ordinary and extraordinary layoffs and mobility, according to the law.”


Must ReadView All

Pic: Shutterstock

Textiles | On 25th Feb 2020

US surpasses China as India's biggest trading partner

The United States has surpassed China to become India's top trading...

Pic: Shutterstock

Textiles | On 25th Feb 2020

COVID-19 puts break on India’s raw material import

Novel coronavirus (n-CoV or COVID-19) epidemic has taken more than...

Pic: Shutterstock

Textiles | On 25th Feb 2020

Coronavirus may shift buyers to Turkey, fuel cotton growth

The coronavirus outbreak will cause a possible shrinking of China's...

Interviews View All

Ghanshyam Ghoghari, Kimora Fashion

Ghanshyam Ghoghari
Kimora Fashion

Bridalwear is not about reds and whites anymore

Top executives, Textile industry

Top executives
Textile industry

The budget will give major impetus to textile and apparel consumption

C Kamatchisundaram, Voltas

C Kamatchisundaram
Voltas

ITME is an occasion not only to receive new leads but also to work on...

Will Qian,

Will Qian

Honghua Digital Technology Stock Co., Ltd. specialises in the R&D,...

Abhishek Dhanuka,

Abhishek Dhanuka

Vyom International Pvt Ltd, established in 2002, is one of Surat's leading ...

John Elmuccio,

John Elmuccio

Evolution St Louis is a company setting up a high-tech knitting facility...

Frank Heislitz, Freudenberg

Frank Heislitz
Freudenberg

Freudenberg Performance Materials is a leading global manufacturer of...

Giorgio Mantovani, Corman S.p.A

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Silke Brand-Kirsch, Schlegel und Partner GmbH

Silke Brand-Kirsch
Schlegel und Partner GmbH

<div>Schlegel und Partner is the market research and consultancy company...

Joe Ikareth, Joe Ikareth

Joe Ikareth
Joe Ikareth

<b>Joe Ikareth</b> has a rock-solid fashion and textiles background, which ...

Sonam & Paras Modi, SVA

Sonam & Paras Modi
SVA

Sonam and Paras Modi's Sva Couture is synonymous with head-turning...

Sanjukta Dutta, Sanjukta's Studio

Sanjukta Dutta
Sanjukta's Studio

<b>Sanjukta Dutta</b> creates unique garments by clubbing prints of...

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

Leave your Comments


February 2020

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


Advanced Search