Zotefoams (ZTF) has shrugged off gathering political and macroeconomic uncertainties, by posting record sales for the first quarter with revenues approximately 28 per cent to the good over the comparative period in 2016, or 16 per cent at constant currencies.
Revenue from polyolefin foams increased by 6 per cent at constant currencies, with output benefiting from capacity expansion. High-performance, higher-margin products provided the catalyst, with increased demand for the group's closed-cell, cross-linked foam ZOTEK PEBA, while the MuCell equipment contract shipped in the quarter after being delayed from 2016.
In the US, the previously delayed high-pressure autoclave production unit passed its final acceptance testing in April. Zotefoams anticipates a start-up at the end of the third quarter, which will deliver 20 per cent additional global capacity.
