At EUR 1,266.5 million, the consolidated sales of the Group almost reached the previous year's level (1st half of 2019: EUR 1,275.5 million). At EUR 122.5 million, the operating result was 1.2% or EUR 1.5 million below the previous year's figure (1st half of 2019: EUR 124.0 million) and includes expenses from the termination agreement with the former CEO in the amount of EUR -8.6 million, which were booked in equal parts in the divisions. Depreciation and amortization increased from EUR 67.6 million to EUR 89.2 million, which includes market-related impairments in the long-term assets of both divisions in the amount of EUR 20.9 million. The Group's operating margin remained unchanged at 9.7% (1st half of 2019: 9.7%). The profit for the period decreased accordingly by 8.0% to EUR 84.9 million (1st half of 2019: EUR 92.3 million).
Toray Plastics (America), Inc., announces that Jim Nunn has joined the company as a Business Manager in its Torayfan® Division. Nunn arrives at Toray following roles at ExxonMobil and Jindal Films America. He has held leadership positons in production management, sales, and demand planning. Nunn earned his M.B.A. in finance from Cornell University.
“It is a pleasure to welcome Jim to the Torayfan team,” says Franco Chicarella, Director of Sales, Torayfan Division. “Jim brings to Toray solid, diverse industry experience, and we anticipate that he will be an important contributor to the division’s ongoing success.”
Toray Plastics (America), Inc., is a leading manufacturer of polyester, polypropylene, and metallized films and polypropylene and polyethylene foams. The company is committed to environmental, social, and corporate governance and aims to contribute to society through the creation of new value with innovative ideas, technologies, and products that help address global issues. R&D is focused on the development of materials that are fossil fuel-free, compostable, biodegradable, and/or recyclable. The company’s sustainability initiative, launched in 2004, includes the operating of one of Rhode Island’s larger solar farms and two cogeneration systems, energy and water conservation, recycling, and zero landfill.