30 August 2005
30 August 2005
Surface Transforms, the carbon fibre reinforced ceramic materials manufacturer, issued its latest financial report and appears to have lost many of its recent gains after full year losses soared and turnover tumbled.
The UK based company posted Pre-tax losses for the 12 months to 31 May widened to more than £675,000 from £249,000 in 2004 on turnover down to £258,000 from £428.6m.
The group blamed the downturn in performance on the loss of the aircraft brake contract associated with Dunlop Aerospace announced in January and the strategic decision to increase development costs and strengthen management. Chairman Kevin D'Silva, however, remained optimistic about the progress the company will make over the coming years.
“The new and larger team at Surface Transforms is capable of driving success in its chosen markets,” he said.
“During this 2005/6 financial year, the board expects to demonstrate the success of its business development activities in the automotive brake market and build upon its existing development and supply programmes in aircraft braking and rocket engine components,” added D’Silva.
The company are optimistic about its future with a number of high-profile contracts, anticipating anticipate that the market for ceramic brakes is predicted to be 315m a year by 2015. The company suggest that they are targeting a market worth £142 million - 45% of market, with estimations that the automotive market for carbon/ceramic composites predicted to grow by 150% to a value of £157m a year by 2010.
In the past year, the company has agreed a two-year programme to supply rocket motor components to Roxel, Europe's largest manufacturer of rockets and missile propulsion systems. It has also been awarded a US-based aircraft brake development programme, and has started developments testing with two British high-performance car makers.
The American Composites Manufacturers Association participated in a roundtable discussion about the IMAGINE Act. Known as the Innovative Materials in American Growth and Infrastructure, Newly Expanded (IMAGINE) Act, the new bill is designed to promote the increased use of innovative materials like fibre reinforced polymer (FRP) composites, as well as new manufacturing methods to accelerate the deployment and extend the life of infrastructure projects.
Coriolis Composites has been selected by the National Institute for Aviation Research (NIAR) at Wichita State University (WSU), US, to provide a thermoplastics capable Automated Fibre Placement (AFP) system.
After the collapse of a drinking water pipeline in downtown Amsterdam, the Netherlands, Insituform was contracted to reline a close to 100 year old pipe underneath one of the canals. Water was restored successfully within five days, with minimal impact on traffic and the environment.