MUNICH, April 5, 2017 /PRNewswire/ --
- Far-reaching cost reductions compensate part of decrease in sales in 2016
- Group annual sales at 688.4 million euros
- New corporate legal structure successfully implemented
H.C. Starck, one of the leading manufacturers of customer-specific powders and components made from technology metals and advanced ceramics, expects to see a sustained recovery of its core markets in the 2017 fiscal year. During the past fiscal year 2016, sales were down due to the tough market environment and decreases in the prices of raw materials. With an overall value of 688.4 million euros, the annual turnover remained below the previous year's figure of 815.2 million euros. As of December 31, 2016, the company had about 2,600 employees worldwide (2015: about 2,700).
By creating a new corporate legal structure for the three powder divisions last year, H.C. Starck took an important step toward a solid alignment for the future. The three powder divisions now have independence and flexibility in gearing their individual strategic developments toward the requirements of the different markets. "This represents a new milestone in our nearly one hundred years of history as a company," explains Dr. Engelbert Heimes, Chairman of the Executive Board of the H.C. Starck Group. "We are looking ahead to the future with confidence. That is true for the independent powder companies and for all other business units. We have laid the necessary structural groundwork for further positive development, and we assume that our core markets will see a sustained recovery in 2017."
Full version of the press release is available at http://www.hcstarck.com/press
H.C. Starck press office, represented by:
80801 Munich, Germany
SOURCE H.C. Starck GmbH