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Conzzeta has vigorous growth but foam unit disappoints: problems with start up of latex unit cause difficult year for FoamPartner business.(europe newslines)

Zurich, Switzerland -- Conzzeta Group, which owns the FoamPartner operation, had "an excellent year" in 2007, with consolidated net revenues up 18.3 percent to CHF 1507.0 million ($1490 million, previous year: CHF 1273.6 million), the group's 2 April results statement said.

But in its FoamPartner polyurethane business, which makes up about ten percent of Conzzeta's sales, "2007 was a difficult year," Conzzeta said.

Although FoamPartner's sales rose by 6.1 percent to CHF 156.5 million, higher raw materials costs were only "partially offset by increasing product prices," Conzzeta commented.

For the group, profit rose from CHF71.1 million last year to CHF161.4 ...

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