Tristone expects 'steep' sales growth in 2022

FRANKFURT, Germany—Tristone Flowtech Group is expecting "a steep sales growth" of 19 percent in 2022, helped by "ongoing start-ups in China, Europe, North America and India."

The German rubber hose manufacturer estimates a total revenue of $480 million (€420 million) this year, driven by new products and applications with new patented technology, according to a Jan. 24 statement.

For 2021, the Frankfurt-based group reported a 9.3-percent rise in sales to $403 million, which it said was achieved "despite significant volatility and headwinds in global automotive market."

About 77 percent of the total new business awards received in 2021 were in the battery cooling products, aligned with Tristone's sustainability-driven strategy, said Bernd Bitter, group VP sales and marketing.

Describing 2021 as a "a very turbulent" year, group president and CEO Ignacio Salazar said Tristone faced multiple challenges including tensions in the raw material markets, volatility in the incoming orders from some customers, and the ongoing effects of the Covid pandemic.

Despite these challenges, he said, "Tristone has managed to maintain supply chain stability in all regions and keep positive earnings before tax, based on our unaudited 2021 financials." He did not give further details.

A spin-off of the former Fluid Automotive business unit of Trelleborg A.B. in July 2010, Tristone operated as a stand-alone company until February 2017 when it was acquired by the Zhongding Group.