Puratos financials in line with growth strategy

The Puratos Group announced that its 2011 financial results met expectations, with 11 percent growth in net sales to reach about $1.5 billion.

The results are in line with the company’s long-term strategy, which is further confirmed by positive 2012 early-year figures, according to a company press release. Despite the global market slowdown, Puratos’ margins and profit evolution remain in line with its growth strategy, due to success in Western Europe, Asia, South America and the BRIC countries.

“This success is the result of our continued efforts to innovate our product offering alongside our vision and clear focus on realizing our growth ambitions,” Daniel Malcorps, chief executive officer of the Puratos Group, said in a press release. “Of course, over the last year, we have experienced the pressure of the crisis in the euro zone and the uncertainty of the financial markets, in particular with volatility in raw material prices. Greece remains a big concern, as does Spain, although we hold our position in both markets. In the end, we are very pleased to be able to continue our growth—in line with the group’s long-term strategy.”

In 2012, Puratos is set to invest close to $100 million in capital expenditures to ensure continued growth. This includes the construction of a new R&D center in Belgium, the second year of major upgrades to manufacturing facilities in New Jersey and completion of a manufacturing plant in China.

Source: Modern-Banking (http://goo.gl/nxGsp)