ALTDORF, Switzerland (April 1, 2008) — Daetwyler Group posted record sales and profits for the year ending in December 2007, despite problems its U.S. plant is facing.
Net revenue climbed 17.7 percent to $1.42 million and profits soared to $218 million from $76.1 million. In 2008, Daetwyler aims to continue increasing revenue and profits from operations for the year.
Daetwyler said its Daetwyler Rubber division generated net revenue growth of 9.5 percent to $153 million from a earlier. Operating profits before impairment charges in the NAFTA region increased 35.6 percent to $12.2 million, excluding the effects of a fire at a plant in France.
The company said its Marion, S.C., plant still has to contend with the difficult conditions in the American market for automotive sealing products, and the firm intends to open a factory in Mexico this year to improve the situation and reinforce operations in the NAFTA region.