AnnuAl RepoRt 2011
AnnuAl RepoRt 2011
AnnuAl RepoRt 2011
You also want an ePaper? Increase the reach of your titles
YUMPU automatically turns print PDFs into web optimized ePapers that Google loves.
4<br />
With the company-wide rollout of<br />
DuPont’s STOP safety program, we<br />
significantly reduced the number and<br />
severity of accidents in the group.<br />
Consolidated net sales for the group<br />
increased 16.1 % from 2010. Refining<br />
and Advanced Coatings increased<br />
18.3 % and 54.1 % respectively, while<br />
Electrotechnics decreased by 7.5 %.<br />
Operating profit for the group increased<br />
by 63.3 % and surpassed 100 million<br />
CHF for the first time. Our full-time<br />
equivalent staff now stands at 1665, an<br />
increase of 2.5 % from 2010.<br />
reFInIng<br />
One of the significant achievements for<br />
this division was the de-bottlenecking<br />
and expansion of silver refining in the<br />
USA. Throughput times were reduced<br />
by 50 % and capacity tripled. This<br />
contributed to a marked improvement of<br />
operational margins. Small, consumer<br />
based, precious-metal bar sales in<br />
Europe and China continued to grow<br />
with investor demand. Elements of alloy<br />
production retained from the former<br />
Watch Division had strong sales.<br />
advanced coatIngs<br />
Despite the economic turmoil in<br />
Europe, the sales of precious-metals<br />
chemicals to industrial clients in France<br />
and Northern Europe remained at similar<br />
levels to 2010. Swiss watch industry<br />
chemical sales performed extremely<br />
well. Orders for silver products for the<br />
photovoltaic sector dropped sharply<br />
as destocking exposed overcapacity<br />
and marginal producers closed plants.<br />
Fortunately, our Chinese powder<br />
production site is now seeing sharp<br />
increases in orders as products put to<br />
market over the past two years are now<br />
being qualified. The newly acquired<br />
business in Japan has been integrated<br />
into our divisional and regional structures,<br />
and has several capital expansion<br />
programs underway.<br />
electrotechnIcs<br />
As was the case in 2009, the destocking<br />
effect was the most pronounced<br />
for our products used for electrical<br />
contacts. Special industrial programs<br />
were introduced at all plants to control<br />
costs as volumes changed. This proved<br />
successful and margins were improved<br />
over the previous year, in spite of a<br />
drop in volume. Silver stocks in production<br />
and inventory were reduced<br />
by over 25 % worldwide. As in 2010,<br />
volumes in the Chinese plant grew<br />
significantly. The closure of the Puerto<br />
Rico plant was achieved on schedule<br />
and within budget with no disruption of<br />
customer deliveries.
Change language