Sidel set to become profitable again
is expected to return to profitability in 2002, after last year's
€47.5 million net loss.
Sidel, the French manufacturer of machinery for bottle producers, is expected to return to profitability in 2002, after last year's €47.5 million net loss.
Board chairman Gerard Stricher yesterday told the group's shareholders that its results for the first half of 2002 will show a marked improvement in performance, with a profit for the year as a whole.
At the same time, Sidel plans to focus on its core business of drink bottles - which accounted for 85 per cent of its 2001 turnover - by disposing of its bottling activities in the fields of cosmetics (Norden), powdered foods (Guerin) and outer packaging (Cermex).
Sidel's core activities achieved an 8.6 per cent rise in sales in January-May 2002, with a 21 per cent hike in the turnover of its blow-moulding division in the first quarter. The group is also optimistic about the prospects of its Actis technology, which will enable PET to replace glass in the bottling of beer, milk and fizzy drinks.
