Sales of the reactive polyurethane resins systems in its polymer solutions business, and the eco solutions recycled polyols and recycling plants, were up 25% on the previous year, the privately held company said.
Sales in the tooling business were flat while the production systems, and machine systems and composite solutions were all lower in the 2020 financial year than previously. This was because of the lower performance of the aerospace industry, which is taking longer to recover.
'Although the coronavirus pandemic is still having an effect on our results, the bounce-back is already noticeable in all business divisions,’ said CEO Michael Rampf. 'We are optimistic about the current financial year, although it is still very difficult to say just how much the raw material crisis will continue to affect our delivery and our sales.'
The company said it is planning to invest EUR8.5m in digital infrastructure and R&D . The company is also going to invest at its Pirmasens, Gemany to help the Eco Solutions business grow with the rising amount of recycling in the PU industry.
'More and more companies are relying on our chemical recycling expertise,’ Michael Rampf said. ‘Our project with Repsol for building recycling plants is just one of numerous major projects.'