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Posted: November 18, 2009
Nanogate Improves its Market Position in the Automotive Industry
(Nanowerk News) Nanogate, a leading international nanotechnology enabler, returned to profit in September in its monthly figures. The company intends to significantly improve earnings in the second half of 2009 and is aiming for an almost balanced EBIT. In addition, Nanogate is considerably expanding its market position in the automotive industry: As well as the Opel Insignia, a serial production model in the family car segment will in future also be equipped with Nanogate’s innovative seat coating. Furthermore, from 2010 a leading German premium range manufacturer will be using the innovative process developed by Nanogate to enhance exhaust gas recirculation valves. Both of these contracts together should achieve earnings in the middle six-figure euro range within the next few years.
Ralf Zastrau, CEO of Nanogate AG commented, “Our innovation offensive and our focus on strategic growth are paying off: we are winning high-margin orders that prove our innovative strength. We have been profitable again since September in our monthly figures and based on this we want to achieve almost balanced earnings for the second half of the year. Our objective continues to be a return to profit on an annual basis too as soon as possible after 2009.”
Return to profit zone achieved in monthly figures
For 2009 as a whole, Nanogate hopes to record sales in excess of EUR 10 million. As laid out in the half-year report, demand is rising visibly. At the same time, EBIT and operative cash flow are improving greatly in the second half of the year compared with the first few months of 2009. The goal is to achieve almost balanced earnings (EBIT) in the second half. The Group already recorded a profit in its monthly figures for September and October. This shows that the innovation offensive underway is already paying off after only a few months. Nanogate is continuing unabated with its planned growth strategy: Alongside the innovation offensive, the company also wants to tap international markets. In addition to this, new applications and technology platforms within the fields of expertise of energy efficiency, air filtration and light guiding are being developed or launched on the market. These three levers for growth and any external growth should open up considerable potential for medium and long-term sales and earnings.
Another car model to be equipped with innovative seat coating
After the Opel Insignia, “Car of the year 2009”, a serial production model in the family car segment will in future also be equipped with a new upholstery coating from Nanogate. The treatment, known as “Top Tec”, prevents dirt and liquids from entering into the seating fabric and staining the material. This application was developed in 2008 in the Functional Textiles division.
Another manufacturer to benefit from efficient exhaust gas recirculation valves
In addition to the above, Nanogate has received an important contract from a leading German premium range manufacturer. This Nanogate innovation, which is already being used by several car manufacturers, improves the efficiency of the car’s exhaust system. The coating on the exhaust gas recirculation valves enables engines to run in a more reliable and environmentally friendly way.