MALMO, Sweden—Swedish polymer group Hexpol A.B. has reported “its best year so far” in terms of finances, issuing its fourth quarter and annual financial results for its fiscal year to Dec. 31 2014.
In its annual report, Hexpol said its sales rose 11 percent year-on-year to $1.06 billion while operating profit was 16 percent higher at $175 million.
For the fourth quarter, Hexpol said sales rose by 21 percent to $280 million and its operating profit by 19 percent to $45.9 million.
The profit excluded the November 2014 acquisition, integration and restructuring costs of Vigar Rubber Compounding, which the company estimated at around $4.5 million.
Furthermore, in December 2014, Hexpol acquired Portage Precision Polymers Inc. rubber compounder, with manufacturing facilities in Ohio.
“The fourth quarter of 2014 was again a strong quarter for the Hexpol Group,” said the group CEO and president Georg Brunstam.
Commenting on Hexpol's acquisition activities, Brunstam said: “During the second half year, we made four acquisitions within our focus area polymer compounding.
“The acquisitions strengthen our market positions and gives us competences within new end user segments and materials.”