Sumitomo Electric Industries reports Q3 Powder Metallurgy sales up 12%
February 9, 2015
Sumitomo Electric Industries Ltd (SEI), based in Itami, Japan, reported a strong fiscal 2014 3rd quarter which saw sales up 12.6% to Yen 732.2 billion ($6.108 billion) compared with the same quarter in 2013. Overall sales for the 9 months to December 31, 2014, were up 9.7% to Yen 2,042 billion ($17.047 billion).
The company’s ‘Industrial Materials & Others’ division saw 3rd quarter sales increase by 3.5% to Yen 79.3 billion ($661.9 million) taking sales for the 9 months to Yen 236.2 billion ($1.971 billion ). This division is the third largest after the ‘Automotive’ and ‘Environment and Energy’ divisions, and includes the production of cemented carbides (hardmetals), Powder Metallurgy (PM) parts, plus W, Mo, heavy metal, thermal management materials, ceramics, diamond tools and hardmetals produced at the fully owned A.L.M.T. subsidiary.
Sales of PM products in the 3rd quarter rose by 12.4% to Yen 14.5 billion ($121.0 million) and in the 9 months to December 31 to Yen 42.9 billion ($358.1 million). Hardmetals (cemented carbides) sales increased by 8.5 to % to Yen 22.9 billion ($191.2 million) in the 3rd quarter, and for the first 9 months totalled Yen 66.8 billion ($557.6 million).
Sales at A.L.M.T. rose by just 0.9% to Yen 11.2 billion in the 3rd quarter. Overall sales for A.L.M.T. in the first 9 months were Yen 36 billion ($300.5 million ), a 15% increase compared to the same period in 2013.