Weak Economy Hurts HC Starck’s 2013 Profit

HC Starck Inc. released its results for the 2013 fiscal year, commenting that its sales came to a total of 703.9 million euros, below the year-ago figure of 862.9 million euros.

Explaining the decline, CEO Andreas Meier cited “the weak development of the overall economy and sluggish growth in our key markets and target industries especially in the tantalum segment.”

Elaborating further, the press release states:

Especially in the tantalum and niobium powder segment, H.C. Starck registered very restrained demand from the electronics industry due to structural changes in consumer electronics and de-stocking activities at key customers. Sales of tantalum components such as sputtering targets also declined due to customer initiatives to reduce existing stock and the weakening of the project business from the chemicals industry.

Click here to read the full HC Starck Inc. press release.