Strong start as production increases to pre-Covid levels
- Highest first-quarter production on record; 3.2 million Engine Equivalents
- March equals third-highest month on record; 3.6 million Engine Equivalents
[Stockholm, 5 April 2022] – Annualised series production in March amounted to 3.6 million Engine Equivalents, equalling the third highest month in SinterCast history. The strong production in March boosted the first-quarter volume to 3.2 million Engine Equivalents, providing the highest first quarter on record. In perspective, the first quarter production was 10% above the first quarters of 2021 and 2020, and significantly, 3% higher than the corresponding pre-Covid volume in the first quarter of 2019.
“Following new year shutdowns in January and holiday periods for some of our key foundry partners in February, March is a traditionally strong month, and this year was no exception. The strong market demand – particularly in our largest market in North America – contributed to the March volume, providing our highest first quarter on record and a strong start to 2022” said Dr Steve Dawson, President & CEO. “Since the onset of Covid in the first quarter of 2020, this is the first time that we have posted a quarterly result that is higher than the corresponding pre-Covid period. We expect the production volume to improve during the rest of the year, as new series production programmes ramp up and as supply logistics improve. We maintain our ambition to reach the monthly four million Engine Equivalent milestone this year.”
For more information:
Dr. Steve Dawson
President & CEO
SinterCast AB (publ)
Tel: +44 771 002 6342
e-mail: steve.dawson@sintercast.com
SinterCast is the world’s leading supplier of process control technology for the reliable high volume production of Compacted Graphite Iron (CGI). The properties of CGI enable improved transport solutions, increasing efficiency and reducing carbon emissions in passenger vehicle, commercial vehicle and industrial power applications. As a specialist supplier of precision measurement and process control solutions to the metals industry, SinterCast also supplies the SinterCast Ladle Tracker® and SinterCast Cast Tracker® technologies, to improve production efficiency and Industry 4.0 traceability in a variety of applications. With 55 installations in 14 countries, SinterCast is a publicly traded company, quoted on the Small Cap segment of the Nasdaq Stockholm stock exchange (SINT). For more information: www.sintercast.com
This press release contains information SinterCast AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. This information was submitted for publication, through the agency of the President & CEO Dr. Steve Dawson, at 17:30 CET on 5 April 2022.
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