Umeco increases sales

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Umeco, the international supply chain and composite materials company, today reported strong interim results for the period ending 30 September 2008.

Composites saw a revenue growth of 44 per cent and an operating profit of 67 per cent.

Supply chain revenues increased by 23.5 per cent and operating profits were up 13.7 per cent.

During the interim period, the company benefited from positive announcements from Airbus’s Next Generation Future Wing project, where Umeco’s out-of-autoclave pre-impregnated advanced composite material qualified for use in Airbus structural applications.

Umeco’s strong results have also been driven by the extension of a number of existing contracts, including a significant supply chain agreement with Rolls-Royce.

The company said it remains optimistic about its prospects in the coming months.

Clive Snowdon, chief executive of Umeco, told The Engineer Online: ‘Due to the length of time it takes for contracts to come through, even if the economic situation does not change in the near future, we still have enough orders to work with for the next six months.

‘Therefore we are confident of continued growth despite the current climate.’

Following the results, Umeco announced a five year contract between its US supply chain division, Pattonair, and ATK Tactical Propulsion and Controls Division (ATK), part of Alliant Techsystems Mission Systems Group.

In addition to managing supply chain functions, the contract will see Pattonair provide a direct-to-line-feed solution for production parts for ATK facilities in West Virginia and Maryland.

The contract will supply Umeco with approximately 20 per cent of its US supply income.

This is the first time ATK has outsourced its supply management and Snowdon is hopeful that the company will secure contracts with additional ATK sites in the future.