Export expansion drives Cedip's growth
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Cedip Infrared Systems product story
Edited by the Engineeringtalk editorial team
Sep 15, 2006
Cedip Infrared Systems reported consolidated sales of Eur 7.7 million for the first six months of 2006, representing a growth of 19% compared with the first half of 2005.
Cedip Infrared Systems has announced its consolidated sales turnover for first half of the year and has signed an important contract in the USA.
In spite of the effect of traditionally unfavourable seasonal variation, Cedip Infrared Systems reported consolidated sales of Eur 7.7 million for the first six months of 2006, representing a growth of 19% compared with the first half of 2005.
Over this period exports represented 86% of sales, with particularly strong growth reported for the Asia-Pacific region.
Due to transfer of orders from the first six-month period into the second six-month period 2006, by Swedish subsidiary Polytech, pro forma sales turnover moved back 12%.
For the complete FY 2006, Cedip Infrared Systems management is confident to realise a sales turnover in line with its objectives.
In addition, Cedip Infrared Systems has announced the signing of a million dollar contract for supply of infra-red equipment to a research centre of the US Army.
This new order will be delivered and integrated in the sales turnover of the second six-month period.
This contract illustrates the effective implementation of the US strategy announced by Cedip and marks a further penetration of the US market - the leading market in the world for infra-red monitoring and safety equipment.
Pierre Potet, CEO of Cedip Infrared Systems concluded: "After a first half year in alignment with our expectations, we are confident to realise a significant growth in sales for the second half of the year".
"The major American Army contract, gained in conjunction with our US distributor Electrophysics, proves the ability of Cedip to penetrate difficult markets thanks to a growing recognition of the technological strengths of our product portfolio".
"Our increasing participation in many international exhibitions will make it possible for Cedip to further increase international awareness of the company and to create new outlets and customers by presenting our comprehensive range of exciting new products".
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