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Global Suncare Products Market By Type, By Application, By Segmentation, By Region, and By Country 2021
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Global Seaweed Products Market By Type, By Application, By Segmentation, By Region, and By Country 2021
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Preferred Supplier Status for EV Manufacturers Further Validates End Market Diversification Strategy
/EIN News/ MT. LAUREL, N.J., Feb. 16, 2021 (GLOBE NEWSWIRE) inTEST Corporation (NYSE American: INTT), a global supplier of innovative test and process solutions for use in manufacturing and testing across a wide range of markets, including automotive, defense/aerospace, energy, industrial, semiconductor and telecommunications, announced today that it continues to experience strong growth in its automotive and electric vehicle (EV) market penetration. “We are making great strides in this emerging market,” noted Nick Grant, inTEST President and CEO. “inTEST’s Thermal Products Segment’s subsidiary, Ambrell Corporation, continues to make strong contributions to the Company’s diversification strategy, and we see the EV market as one of the early successes in our renewed focus on end markets and applications.”
Q4 2020 key highlights · Revenue increased to $2.4 bn (+7% qoq; +3% yoy), supported by a recovery in rolled product prices. · EBITDA grew to $890 m (+54% qoq; +85% yoy), due to the expansion of the raw material/slab price spreads, recovery of production volumes at Stoilensky after the September incident, accrued refund from the US Department of Commerce in line with the settlement agreement, and gains from Strategy 2022 projects. EBITDA margin was 37% (+11 p.p. qoq; +16 p.p. yoy). · Free cash flow reduced to $229 m (-4 % qoq). The increase in EBITDA was offset by the outflow of cash to replenish working capital amid growing global steel and raw material prices.