SinterCast poised to finish 2011 with record results

"Across the board, 2011 has provided record results and series production growth of approximately 50 %. Our track record for series production growth is strong and consistent, with every single quarter since 2008 showing positive growth", said Dr. Steve Dawson, President & CEO of SinterCast. "This growth, combined with positive feedback from our customers, provides a deep source of motivation as we look forward to 2012.

Series prodcution continues to grow, with annualised production currently running at a record pace of more than 1.5 million Engine Equivalents (75,000 tonnes/year). The 2011 series production surpassed full year 2010 results during October and is poised to close 2011 with 50 % year-on-year growth. Likewise, Sampling Cup shipments surpassed 2010 full year results during September and, following record shipment of 22,400 Sampling Cups during October, the Sampling Cup volume is poised to increase from 102,650 units in 2010 to approximately 150,000 units in 2011.

During 2011, SinterCast has commisioned six new installations. Together, the increased series production and installation activities have resulted in a significant increase in revenue, with year-to-date revenue in October 2011 more than 40 % higher than the same period in 2010.

SinterCast and its foundry customers are actively supporting product development for new CGI applications beyond the current core sectors for passenger vehicle V-diesel cylinder blocks and commercial vehicle cylinder blocks and heads. This ongoing product development provides opportunities for high volume series production in the near term, and an important broadening of SinterCast´s series production base.

Although economic uncertainty continues to dampen financial markets, the outlook for SinterCast in 2012 remains positive. Series procution shows a clear growth trend and, while new car sales forecasts in Europe may indicate a decline, this is primarily influenced by anticipated reductions in small vehicle sales in southern Europe. Sinter Cast´s current production is linked to large and luxury vehicles, and this sector does not yet show any decline. Globally, most analysts forecast foundry production to increase by up to 5 % per year until 2015, providing a positive business environment for SinterCast´s series production and new installation opportunities.

SinterCast