ZURICH, Jan 19 (Reuters) - Textile-and-surfacing solutions conglomerate OC Oerlikon said on Friday that two Chinese textile machinery orders worth a combined 540 million Swiss francs ($564 million) underscored the recovery in demand from the sector.
The orders for Oerlikon Barmag’s polyester yarn spinning technology come from a pair of customers in Zhejiang province and will help the Swiss company push its man-made fibre textile machinery business’s operating profit margin toward 15 percent of sales, Oerlikon said in a statement.
“These orders confirm the strong recovery in the filament equipment market and the continued trust our market-leading customers have in us and our technologies,” said Chief Executive Roland Fischer in the statement.
“We expect the segment’s business to continue developing well and the mid-term prospects to remain positive, with the opportunity to structurally converge the segment’s business toward mid-teens EBITDA margin again.”
$1 = 0.9573 Swiss francs Reporting by John Miller; Editing by Michael Shields