Exel Composites, headquartered in Finland, employs the pultrusion, pullwinding, continuous lamination and prepreg moulding processes to manufacture composite profiles and tubes for industrial applications.
The company's new strategy focuses on accelerating growth in China, penetrating new applications and market segments, creating a true global footprint and growing through new technologies.
Growth in China will be accelerated by expanding the local sales network, R&D and manufacturing capacity. Global footprint will be expanded by increasing sales coverage and growing supply and service to new market areas, including Americas.
Long-term financial targets
Exel Composites' new financial targets are:
- Growth: Turnover growth 2x average market growth;
- Profitability: Operating profit margin over 10% of net sales; and
- Capital efficiency: Return on capital employed over 20%.
Acquisitions are targeted to boost growth and to cover market and technology gaps.