Carclo trading 'returns to normal' in second half
By PRW Staff
Posted 7 February 2013
Carclo, the Croydon-based technical plastics group, has reported a “return to normal” trading in the second half of its financial year, after it saw weaker demand in the first six months.
In an interim management statement issued today Carclo said its Technical Plastics division saw demand from a number of customers weaken in December and which was slow to recover in January.
But the group said schedules had returned to normal and February “has started well”.
In LED Technologies, Wipac's supercar lighting business had enjoyed a solid start to its fourth quarter and the Precision Engineering division continues to perform well, it said.
Manufacturing issues relating to production of its ITO and XSense touch sensors based on Conductive Inkjet Technology's Fine Line Technology had now been resolved and Carclo and its partner Atmel Corporation were confident that the production ramp-up “will commence shortly”.
Carclo said the US10m (£6.4m) prepayment has been triggered but would not be received until full-scale production resumes and Atmel has invoiced its customer.
“Validation of the Atmel US XSense facility is imminent but not yet complete, and this will reduce CIT film sales in the present quarter relative to our previous expectations. Plans are well advanced at Atmel for further increases in manufacturing capacity in the second half of 2013,” the statement added.
Carlco confirmed the retirement of Ian Williamson as chief executive on 27 March; Chris Malley will assumes the role on the same date.
Williamson will continue to support Chris in a consultancy role concentrating on the technical and commercial development of Carclo Diagnostic Solutions, the group said.
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