Claudius Peters reports another disappointing year
Published by Jonathan Rowland,
Editor
World Cement,
Claudius Peters has “another disappointing year” in 2018, according to the chairman of parent company, Langley Holdings. The Buxtehude-based company did however remain profitable on revenue of €102.8 million.
“Claudius Peters came into 2018 with a healthier order book than the previous year and I was expecting a better performance,” said Anthony Langley. “However, a number of major projects were postponed principally for Russia, and an overspend on one major contract in Germany also added to the malaise.”
China was the stand-out performer over the year, the only geography to exceed expectations, although the company’s US division did also exceed its budgeted profit “due to a more favourable business mix”.
At the end of 2018, the company recorded €56.8 million of orders on hand, down from €81.8 million of orders on hand at the end of 2017. Claudius Peters manufactures materials handling equipment for the cement, steel, alumina, and gypsum industries.
Read the article online at: https://www.worldcement.com/product-news/13022019/claudius-peters-reports-another-disappointing-year/
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