10/25/2010

www.plasticker.de

Trevira: Manufacturer of polyester fibres records again good result in third quarter

There is again good news from Trevira GmbH. Developments for the manufacturer of polyester fibres are continuing to go better than planned, with quarterly results well above business forecasts, for the third time in a row. The end of September saw turnover volumes some 8 % above target. Given the good situation in terms of orders, capacity is nearly at full stretch, with the proportion of specialty fibres and yarns holding at a good level. "I am very pleased that the seeds of the hard work of recent months keep on growing. Following the comprehensive restructuring the prospects for the company are looking very good", declared Uwe Wöhner, CEO of Trevira GmbH. Further evidence of this is the fact that results in the third quarter of 2010 were (once again) very positive. Although a somewhat weaker fourth quarter was traditional in the sector, Wöhner calculates that it will be possible, on balance, to exceed the forecast for the year.

Textile sector has survived a year of crisis
Market conditions are supporting the upward trend of the company, in that the European textile industry is on the road to recovery. Up to and including July, production volumes for the sector were this year 22% higher than in the same period of the year of crisis, 2009. Compared to last year, European consumption of polyester for textile end uses continued to rise over the summer months, while growth dynamic was stabilising, also due to the levels attained.

"The positive market environment and current special economic circumstances in Germany favour the path that Trevira has successfully taken", adds Wöhner. If growth continued to slacken off, then one could expect the economic recovery to proceed at a moderate pace.

Meetings with investors have recommenced
As announced at the start of the year, talks with investors started again in September, the aim being to conclude the sales process of Trevira GmbH. Given the positive business figures, there has been an unexpectedly high level of interest shown by strategic and financial investors. "Meetings have so far been very promising", states Wöhner. "We are well within schedule and anticipate finding an early solution, one that will secure the long-term independent operation of the traditional Trevira brand."

According to current plans, a new investor for the company should be found by the end of the year.