On March 15, Kirsehir, Turkey-based foundry Cemas Dokum Sanayi AS (Cemas) posted its consolidated financial and operational results for 2010, reporting a loss despite significant sales revenue growth in consequence of increased costs and spending.
Cemas' 2010 sales revenues rose from TRY 25.8 million in 2009 to TRY 35.01 million ($22.16 million). Meanwhile, the foundry recorded a full year net loss of TRY 1.57 million ($994,158), following a consolidated net profit of TRY 382,141 in 2009.
In 2010, Cemas' output tonnage amounted to 12,907 mt, increasing from 10,039 mt in 2009, while sales tonnage rose from 10,162 mt to 12,695 mt.
Founded in 1976, Cemas increased its capacity to 25,000 metric tons in 2009, with new investments (DISA and HWS molding lines), and serves local and international markets with gray and pig iron and sphero casting parts for the automotive, durable goods and machinery industries.