EUPEN, Belgium—Hexpol Group has posted a 39 percent increase in its first half-year profits thanks to acquisitions and positive currency effect, according to the company's financial results for the six-month period ending June 30.
The group registered an operating income of about $117.2 million, up from about $84.7 million. Sales for the same period increased 37 percent to about $684.7 million from about $499.5 million.
Hexpol linked the strong sales growth to acquired units in 2014 and 2015, positive currency effects and improved volumes in Europe and Asia, as well as stable volumes in NAFTA.
“The second quarter of 2015 was once again a strong quarter for the Hexpol Group—our best quarter so far,” said Georg Brunstam, president and CEO.
In the second quarter, the group's sales increased by 36 percent, and operating profit was up 41 percent.
“During the first half of 2015, we have continued to improve our market positions and the integration of the acquired units was completed according to plan. We are well equipped for continued expansion,” Brunstam said.
Hexpol finalized its acquisition of U.S.-based RheTech Thermoplastic Compounding at the beginning of 2015.
RheTech has four facilities in U.S. located in Whitmore Lake, Mich. (RheTech Thermoplastic Compounding), Fowlerville, Mich. (RheTech Thermoplastic Compounding), Sandusky, Ohio (RheTech Colors) and in Blacksburg, S.C. (RheTech Engineered Plastics).
Also, in November 2014, Hexpol acquired Vigar Rubber Compounding.
The group said that Vigar's manufacturing facility in Germany is closed according to plan and the volumes are delivered from other Hexpol units.