H.C. Starck Continues Positive Performance from 2010 in the First Quarter of 2011 |
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H.C. Starck, Inc.
8050 Beckett Center Dr.
West Chester, OH, 45069
USA
Press release date: May 12, 2011
Munich, May 12, 2011. After an excellent fiscal year 2010, H.C. Starck, one of the leading manufacturers of refractory metals and advanced ceramics, continued the positive growth in all of its business units through the first quarter of 2011 as well.
In the 2010 fiscal year, H.C. Starck increased its revenues by 59 percent to Euros689 million. In doing so, the company exceeded its expectations in all of its business units and gained significant market shares, particularly with regard to its tantalum and tungsten activities. One important factor that contributed to this excellent performance was the resurgent demand seen across all markets. "But the rapid and systematic restructuring of our company also played a significant role in the positive development of our business. We made our organizational structure more efficient and more tailored to the needs of the market, and also focused our product range on our core business area," explains Dr. Andreas Meier, CEO of H.C. Starck. "In addition, the cost-cutting measures we implemented made a noticeable contribution to our excellent annual result." On December 31, 2010, the company had 2,727 employees in the United States, Canada, Great Britain, Germany, China, Japan, and Thailand.
In the first quarter of 2011, business was also strong thanks to the ongoing economic recovery and the resulting continued increase in market demand. In fact, H.C. Starck has once again exceeded expectations in several business units. "In addition, we have completed one of our most important strategic tasks," explains Dr. Meier. "Thanks to longer term supply agreements with established mines and the EICC certification for our tantalum procurement process, we have been able to secure our supply of ethically produced raw materials. As a result, we are in an excellent position to achieve our above-average growth targets for 2011."
H.C. Starck is well prepared for the remaining three quarters of this fiscal year, and is relying on three key areas of focus. An important part of the company's 2011 growth strategy is to utilize its recycling capacities, which are one of a kind in the market, to secure the supply of conflict-free raw materials. "H.C. Starck currently obtains more than 45 percent of its raw materials from recycling - more than any other competitor," says Dr. Meier. Furthermore, the company is striving to achieve strong organic growth with new innovative products, as well as an increased international presence - close to its customers and in regions with rapidly growing markets. The company also plans to grow on the basis of current megatrends. With its proven core competencies, H.C. Starck has systematically aligned its product range to focus on products that serve these trends. "Rapidly growing industries like the electronics industry require smaller and smaller components that at the same time are becoming increasingly powerful components that can process large amounts of data at high speeds. With our long-term expertise, we offer specific solutions for the individual needs of our customers in this area," explains Dr. Meier.
Furthermore, industries like the automotive industry, mechanical engineering, and the mining industry place ever-increasing demands on the performance and durability of cutting and drilling tools. "With our one-of-a-kind technological expertise, particularly when it comes to tungsten, we can also offer solutions custom-tailored to the needs of our customers in this area as well," says Dr. Meier.
The company is also active in the field of environmentally friendly technologies, developing innovative and sustainable products such as those for manufacturing fuel cells and solar cells. H.C. Starck is also working on the development of components for high-performance, safe batteries for the growing electric vehicles market.
"In 2010 we laid the foundation for further profitable growth, and we began the current fiscal year extremely well. We have a strong international presence and a high standard product portfolio. That's why we are optimistic that we will successfully execute our ambitious growth strategy in 2011," sums up Dr. Meier.
About H.C. Starck
The H.C. Starck Group is a leading global supplier of refractory metals and advanced ceramics, and uses its own manufacturing facilities in Europe, America, and Asia to serve growing sectors such as the telecommunications, chemical, automotive, medical technology, aerospace, energy technology, and environmental technology industries, as well as mechanical engineering and tool manufacturers. H.C. has close to 2,800 employees worldwide. You find additional information about the company by visiting: hcstarck.com/press; H.C. Starck Group's Raw Material Procurement Statement.
Contact
Ulrike Reich
Director Corporate Communications
T +49 89 900 942 155
ulrike.reich@hcstarck.com
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