Horgen, May 18, 2006 – At yesterday’s Annual General Meeting of Schweiter Technologies AG in Horgen, all proposals received wide approval. The Board of Directors was re-elected by a large majority. Mr Marcel M. Meier decided not to stand for a further term of office. Newly elected to the Board of Directors was Mr Benjamin Loh, Senior Vice President of Veeco Instruments. A native of Singapore, Mr Loh lives in Shanghai.
Stronger performance
SSM Textile Machinery reported a satisfactory first quarter with a solid order intake. Sales were up and earnings at previous year’s level. A major CHF 8 million contract landed in the air texturing segment will boost second and third quarter results. The second half of the year is also set to be stronger than the previous year.
Satisloh registered a steady and very significant influx of new orders. Sales and earnings in the first quarter were visibly stronger than in Q1 2005. The successful integration of the Loh Group led to a substantial increase in volumes. The main priority at present is to deliver products on time. Satisloh is also on track to present a reassuring set of first half results.
Ismeca Semiconductor saw a high volume of new orders in the first quarter. After only three months, sales have already exceeded the level reported for the entire first half of 2005. Defying continued pressure on margins, the result was well into positive territory. Given the sound order intake, business is likely to remain solid in the second and third quarters. There are no signs that the sector is heading for a downturn. The lower dollar will, however, impact negatively on results.