LONDON (Alliance News) - Plastics Capital PLC Thursday said it was trading broadly in line with market expectations, with sales up 50% on the year at its Mandrel business while its bearings business had won projects which should contribute GBP800,000 a year in sales when in full production.
The bearings business contracts include a first deal to integrate plastic bearings in automotive instrument control knobs, worth GBP200,000 a year, it said.
In a trading statement, the engineering and manufacturing company said its industrial film packaging business had completed the installation and commissioning of a new high speed extrusion line, which it expects to significantly help profit growth going forward.
Its creasing matrix business, meanwhile, is experiencing strong sales growth in emerging markets as it supplies products to large cardboard packaging companies.
Plastics Capital shares were up 3.4% at 104.93 pence after the announcement.
By Steve McGrath; stevemcgrath@alliancenews.com; @SteveMcGrath1
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