Balda: Refocus on mobile phones as earnings improve

Precision injection moulder Balda (Bad Oeynhausen / Germany; www.balda.de) is returning to its roots in mobile phone moulding, while reducing to 19.25% its stake in the Chinese touch screen joint venture TPK. Preliminary figures for 2009, restated to take account of the TPK divestment, show a turnaround in EBIT of EUR 2.5m after a loss of EUR 600,000 in 2008.

This is attributed to restructuring and cost cutting while weak demand for low-cost mobile phones is blamed for the decline in sales to EUR 139m from EUR 198m.

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( Source: PIE - News-Ticker on Plasteurope.com )