GF Piping Systems generated sales of CHF 1'494 million, up 5% from previous year. Adjusted for currency effects and acquisitions, sales went up 5%. In particular, the industrial applications experienced a strong demand worldwide. The Building Technology sector also brought significant increases in sales whereas the utility-related turnover remained stable.

The operating result grew by CHF 19 million to CHF 162 million for a 10.8% ROS, against 10.1% in 2015. Well-loaded plants, including in Switzerland, and the strong growth in higher-margin businesses were the main factors behind this profitability increase.

GF Piping Systems acquired three companies during the year. In May, PT Eurapipe, Karawang (Indonesia), a manufacturer of polyethylene pipes and fittings, has been purchased to allow GF Piping Systems to set foot in this promising market. In August, GF Piping Systems acquired, through its Chinaust joint venture, two companies in China, Lingyun Jingran Gas Valve, which complements the divisional portfolio in the gas distribution sector, and Shuchang Auto Part, a supplier of plastic quick connectors for automotive fuel lines in cars and trucks. The integration of all acquired units is fully on track.

Georg Fischer AG published this content on 28 February 2017 and is solely responsible for the information contained herein.
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