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© andrzej thiel dreamstime.com Electronics Production | March 08, 2013

Cicor confirms positive trend for 2012 financial year

Cicor's provisional figures for the 2012 financial year indicate that the positive trend of the first half of the year has gathered strength.
In addition, the Board of Directors announced that Patric Schoch has been appointed the new Chief Financial Officer (CFO).

Despite challenging market conditions in the 2012 financial year, provisional year-end results confirm a sustained positive performance by the Cicor Group. While consolidated sales are slightly lower year-on-year, operating profit (EBIT) is up thanks to a strong second half. The EBIT margin for 2012 is expected to be slightly above 4%.

Patric Schoch to become CFO of the Cicor Group

Patric Schoch has had a long international career in finance with positions as Controller or CFO of major business units or regions for international corporations. Among the companies he has worked for are ABB, Clariant and OC Oerlikon.

Antoine Kohler, the chairman of the Board of Directors of Cicor, said: “This is a huge success for Cicor to have Patric Schoch on board as chief financial officer. He has an excellent track record, and the experience and competence he brought to Cicor were major factors in the company’s success in 2012. His appointment as CFO now fills a key position at the Cicor Group.”

In addition, he will work with the Board of Directors in running the company until the vacant CEO position is filled.

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