Finetex EnE Inc., Turns to Profit
Finetex ㅣ 2017-11-14 ㅣ 2333
Finetex EnE Inc., Global Leader in Nanofiber Technology, has turned profit in Q3 followed by strong demands from technical textile and filtration business. On Nov 13th, Finetex EnE Inc. announces Q3 revenue of 20.5 Billion KRW, with operational income of 4.5 Billion KRW. This results in 2017 YTD (Q1-Q3) revenue of 48.2 Billion KRW and operational income of 4.3 Billion KRW. JC Park, CEO of Finetex EnE Inc., expects total revenue of 75 to 80 Billion KRW for this year.
Since Finetex’s reverse public listing via EnE Systems in 2006, it had stayed in the red for most of the past 11 years. Despite the records, its market capitalization is over 200 Billion KRW today, which shows the market’s trust in Finetex EnE Inc.’s technology and growth potential. Its foreigner share proportion is 16.7%.
Finetex EnE Inc. uses proprietary electrospinning technology to produce ultrafine nanofiber that is 1/1000 size of a human hair. Fine dust particles has particle size of 2.5㎛ (1/1,000,000 of 1m) but nanofiber’s pore size is much smaller at 0.1㎛. As of last year, Finetex EnE Inc. retains 511 patents related to nanofiber production and application.
Finetex EnE Inc. currently supplies its nanofiber membranes to global footwear/apparel brands in North America. The material is much consistent in quality with superior waterproofness and breathability than its counterparts. The air permeability of nanofiber membrane is vastly improved from fluoropolymer based ePTFE membranes, popularized by Goretex.
Another major business
segment is industrial filtration. As regulation on fine dust is strengthened in
all nations, Air Pollution Control market is targeted with application such as
coal fired power plants, metal processing plants and general manufacturing.
Filtration media and Bag filters are the main products.
Finetex EnE Inc. conducted a thorough field testing with Korea’s leading power generation plants for its bag filters and made an announcement in September of its superior filtration efficiency, filter life and energy savings than its competing products. Finetex EnE Inc. is actively cooperating with global filtration companies and has developed in to filter manufacturer in Korea from a media manufacturer.
In addition, expansion in to direct-to-consumer market has been helping the growth. Products for protection against fine dust, such as nanofiber face masks and window screen has shown high growth. Chinese market is expected to be a growth driver as new plant in Wuxi is expected to be operational in 2018.
“In continuation of our strong growth this year, our nanofiber application will be expanded further in to automotive filters, air purifiers and medical and other new applications in 2018” says CEO JC Park.