28 March 2002
28 March 2002
BGF Industries’ net sales for the year ended December 31, 2001 decreased $54.6 million, or 27.1%, to $146.8 million as compared to $201.4 million for the year ended December 31, 2000.
This decrease was due primarily to a decrease in sales of electronics fabrics and sales of filtration fabrics. The decrease in sales of electronics fabrics was primarily a result of significant inventory adjustments in the electronics industry that began during the first quarter of 2001. In addition, the decrease in capital spending in the information technology and telecommunications industry led fabricators of printed circuit boards to reduce production which negatively impacted our sales to these customers.
The decrease in sales of filtration fabrics was due to fewer large utility projects that have replaced filter bags as well as a downturn in the steel and foundry industries. Their second largest market, fabrics used in composite materials, held up well prior to September 11, 2001. They now expect to confront a decline in orders from customers in the aerospace industry due to uncertainty over airline traffic recovery. It is unknown if this decrease will be fully or partially offset by the market for refurbishing existing aircraft or increased purchases by the military.
BGF, headquartered in Greensboro, NC, manufactures specialty woven and non-woven fabrics made from glass, carbon and aramid yarns for use in a variety of electronic, filtration, composite, insulation, construction, and commercial products.
Cobra International is celebrating its 40th year and has commissioned a book that will look at 40 key projects and 40 key people that were integral to the company’s growth. ‘Klaus Simmer and The King Cobra: A breakthrough in surfboard design and production technology’ is an extract article from this book and a breakthrough composites product for Cobra, establishing its presence as a manufacturer of high performance windsurf boards and creating global visibility for the Cobra brand.
Solvay has signed a ten-year agreement for the supply of composites and adhesives to be used across Bell's military and commercial rotorcraft programmes, including the Bell 429, 407, 505, 525, V-22, and UH-1.
SGL Carbon and Fraunhofer IGCV have officially opened the Fibre Placement Centre (FPC) at SGL's site in Meitingen, Germany. Compositence, BA Composites and the Chair for Carbon Composites at the Technical University of Munich have also joined the alliance, and Coriolis Group and Cevotec are planning to come on board as partners.