Operating profits of £150m and £1.017m sales were reported by Courtaulds for 1995-1996. Sales rose by 10% compared with 1994-1995, assisted by an increase in volume of sales in Asia, particularly in coatings/sealants. Profits decreased by 8.5% as a consequence of fluctuations in the price of raw materials for acrylic and viscose. Record Tencel fibre sales were achieved, augmented in May by a European Patent Office ruling that Lenzing AG's patent is not valid. Courtaulds commissioned an additional Tencel manufacturing facility at Mobile, Alabama, USA, in February 1996 and is adding 42,000tpy to its plant at Grimsby, UK. Courtaulds Packaging, Shanghai, China commenced operation in May and a new South Korean coating plant is currently being constructed.
Anon., Asian Chem. News, vol. 2, no. 78, 3 Jun 1996, p. 10