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Porvair’s China plans progressing
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24/06/2008
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Specialist filtration and environmental technology group Porvair said today (24 June) that it expected to begin production at its new satellite manufacturing facility in China at the end of the year.
Announces its interim results for the six months ended 31 May, Porvair chief executive Ben Stocks (pictured) said the new factory would help to meet the needs of its growing customer base in Asia.
Porvair is managed through two divisions. The Microfiltration division comprises the Porvair Filtration Group and Porvair Sciences and is based in the UK. It serves aviation, life science and other markets using metallic and polymeric filtration technologies. The Metals Filtration division trades as SELEE Corp and is based in the US. It uses ceramic filtration technology. Its primary focus is the molten aluminium and specialist alloy filtration markets where it has global market leadership positions.
For the half year, revenues were up 12% to £25.6 million (2007: £22.9m) while pre-tax profit rose 33% to £1.9 million (2007: £1.5m).
Commenting on the results, Ben Stocks said: "Porvair has continued to trade strongly in the first half of 2008 and starts the second half with healthy order books in its core markets, both in the USA and UK. The Board is encouraged by prospects from key growth projects as they move into commercial production. During the first half of 2008 we have invested further in manufacturing facilities to accommodate growth, and additional investments are planned for the second half to improve production efficiencies and allow for the commercial scale-up of new products. The Board looks forward with confidence."
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Author
Ken Hurst
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