Manmade Fibre Segment of Oerlikon with less order intake and sales in third quarter of 2015
In addition to the ongoing market normalization, the growing economic and regulatory uncertainties, tightened financing and stock market stumble in China in the third quarter of 2015 have resulted in the postponements of large-scale projects and weaker customer demand. Compared to the previous year, order intake (-18.1 %) and sales (-26.4 %) both declined for the Manmade Fibers Segment.
Despite the lower top line and changed product mix, EBITDA came in at CHF 30 million, corresponding to a margin of 16.3 %. EBIT for the third quarter 2015 stood at CHF 25 million (Q3 2014: CHF 48 million).
The Segment is taking decisive measures to cope with the accelerated market normalization driven by the recent adverse developments in China. These measures include strengthening its service business, expanding its business in adjacent markets and in other regions, as well as accelerating cost-effective programs to maintain its market position and competitiveness.
Following the opening of a service centre in Dalton, USA and a technology centre in Chemnitz, Germany in this quarter, the Segment began the construction of a new customer service station in Baroda, India. For the upcoming ITMA 2015 exhibition in Milan from November 12 to 19, the Segment will be showcasing diverse new technologies: these range from comprehensive plant solutions for continuous polycondensation to the new members of the successful WINGS (Winding INtegrated Godet Solution) family: WINGS FDY PLUS (for fully drawn yarn) that provides highest yarn quality, a larger operation window and higher packages weights, and the new WINGS POY XS-Series (for partially oriented yarn) that offers various types for the modernization and upgrade of conventional spinning plants. Furthermore, the Segment will be presenting the new WinTape (for tapes and monofilaments) and new eco-friendly dope-dyeing solutions, as well as a new version of the Plant Operation Centre (POC) – a complete software solution that manages the entire spinning and texturing production process, fully in line with Industry 4.0.