PRE-tax profit and turnover increased for Muir of Ord’s SGL Carbon Fibers last year.
The firm – which manufacturers and sells types of fibre – reported figures for the year ending December 31, 2017.
A directors’ report accompanying the business’ latest accounts stated: “In the longer term, the market outlook for carbon fibre remains one of considerable growth.
“The outlook for the shorter term however is for difficult trading conditions with pressure on sales prices due to overcapacity in the carbon fibre market.”
Turnover increased from £61,772,000 in 2016 to £67,101,000 last year.
For the same period, pre-tax profit increased from £5,861,000 to £6,579,000.
A strategic report by the firm stated: “The principal activity of the company during the year was the manufacture and sale of oxidised PAN fibre and carbon fibre. The company’s oxidised PAN fibre products are used as a substrate by manufacturers of carbon aircraft brakes and in a variety of other industrial non-woven and other textile applications.
“Carbon fibre products are used in primarily two market segments. Chopped carbon fibre is supplied to the industrial market for use as reinforcement in, or to add electrical conductivity to, moulding compounds for components of electronic devices. Spooled carbon fibre is supplied to the wind energy market as the raw material to produce the composites needed for wind turbines.”
The firm’s average number of employees increased from 250 in 2016 to 281 last year, while staff costs moved up from £9,736,000 to £10,656,000.
The firm’s ultimate parent company is SGL Carbon SE in Germany.