Market: Packaging Paper & Board
20 March, 23:13
The CPH Group increased its annual net sales 3.5% to CHF 434.8 million ($435 million) for the 2016 business year. CPH successfully further pursued its strategy of reducing its dependence on the Swiss franc, expanding its Chemistry and Packaging divisions and strengthening its presence outside Europe. The expansions in Asia and the repositioning of the Chemistry Division were the prime developments in the business year, as the company said in the press release received by Lesprom Network.
Following the sale of the operating site in Uetikon (near Zurich) to the Zurich cantonal authorities, the Chemistry Division has largely completed the transfer of its production of standard molecular sieves to Jiangsu ALSIO Technology of China, which was acquired in 2016. The manufacture of further Uetikon product lines is being transferred to Zvornik in Bosnia and Herzegovina, where a new production facility is being built this year. And a further part of the Uetikon site’s production is being relocated to Rüti within Canton Zurich.
After ordinary depreciation of CHF 31 million, the CPH Group reported earnings before interest and taxes (EBIT) of CHF 5.9 million ($6 million), a CHF 27.7 million ($28 million) improvement on the previous year.
CPH is an internationally active and diversified industrial group which is headquartered in Switzerland. The CPH Group develops, manufactures and distributes chemical products, wood-based paper and pharmaceutical packaging films.