Optimism again in this release to the FT...
The
latest trading statement from Courtaulds of the UK indicated strong demand and
accelerated expansion plans for Tencel, including an earlier startup date for
its third Tencel plant in Grimsby, which will take annual Tencel output to
100,000tpy by mid 1997. The company's investment programme includes a doubling
of capacity in 1996 and all of this will be used immediately to take the new
fibre into profit. Sales are expected to account for 3% of turnover in 1996.
Other divisions experienced difficult trading conditions in the second half and
the market for acrylics and viscose (over 20% of sales) was disrupted by raw
material price swings. Analysts are forecasting £140m profits for the year
ending March 1996, down from £151m.
Luesby J., Financ. Times, no. 32,915, 21 Feb. 1996, p. 23
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