Superior Multi-Packaging Ltd. Disposes of Hoover Shanghai Group According to BAC Company Report26 Jul 2012 • by Natalie Aster
LONDON – Following its announcement on February 14th and 28th 2012, Superior Multi-Packaging (SMPL) declared full disposal of Hoover Shanghai Group effective May 7th 2012. The Hoover Group engages in the business of fabrication and installation of decorative and architectural metalwork for residential and commercial properties and hotels. SMPL decided to dispose of this company according to its strategy of non-core assets divestment. Hoover Singapore Disposal was committed on February 24th 2012.
SMPL is experiencing tough times within current macroeconomic challenges: volatile raw material prices, lower customers demand, high energy and labor costs. As a result, FY 2011 ended weak: revenue declined by 2.6% and amounted SGD 161.4 M, gross profit accounted SGD 17.8 M (11.9% down), operating income lost 57.1% and equaled SGD 2.7 M, and net income fell by 64% to SGD 1.8 M. Among regional markets Singapore and China were flat, while other ASEAN countries improved.
Founded in 1979 and headquartered in Singapore, Superior Multi-Packaging engages in design and production of packaging solutions from metal and plastic materials. The company commits operations in Singapore, China, Vietnam and the Philippines. SMPL offers solutions for can packaging, pail, UN packaging, printed plates, as well as flexible food and electronics wrappings.
Get more details on the company’s activities, risk factors, business opportunities and experts’ forecasts can be found in the report “Superior Multi-Packaging Ltd. Fundamental Company Report Including Financial, SWOT, Competitors and Industry Analysis” recently published by Market Publishers Ltd.
Superior Multi-Packaging Ltd. Fundamental Company Report Including Financial, SWOT, Competitors and Industry Analysis
Date: Jul, 2012
More company reports featuring SWOT and financial information, industry and competitors analysis can be found in Company Reports Catalog.