Positive market conditions, higher raw material prices and improved competitiveness have helped Finnish adhesives manufacturer Dynea achieve record turnover in 2007.
Turnover rose by 14% year-on-year to €888m, with operating profits up 36% from €32.1m to €43.8m. The company’s profits for the year rose from €51.6m in 2006 to €88.9m in 2007.
Europe remained the company’s main market, accounting for €670.3m of sales, although both Dynea’s home continent and the Asia-Pacific region saw large increases in their year-on-year results.
Dynea said that it intended to continue positive growth by advancing its presence in developing markets, with the sale of its North American operations in July 2007 helping the firm refocus.
“The improvement in Dynea’s business operations is based on continually improving competitiveness in our main markets, where we intend to maintain our leading position, said chief executive officer Roger Carlstedt.
“The North American divestment gives the company the opportunity to concentrate on the growing markets of eastern Europe and Asia.”
Mr Carlstedt added that Dynea’s recent investments in Russia, eastern Europe and China, including joining forces with Italian firm Durante & Vivan to produce and distribute hot melt resins in Asia, would enable it to “accelerate our growth as well as broaden our presence in these markets”.
