Christian Dalloz Sunoptics, the French supplier of sophisticated sun lenses that went through a management buyout a few years ago, has been getting strong orders after the presentation of some exciting new products at the last Mido show in Milan, indicating the likelihood of a financial recovery.
Already last April 30, a French court allowed the company to emerge from its Chapter 11 bankruptcy proceedings. They were enforced in February 2009, due essentially to the financial crisis and the fact that some big customers had not paid their bills. The majority of CDS' creditors accepted the proposed settlement of their outstanding claims and the court accepted the structural measures it had taken to offset a decline in its revenues.
The company, run by Hervé Meillat, managed in fact to reach the break-even point in the second half of 2009 after cutting back half of its total staff. Further progress was registered in the first quarter of this year as sales began to go up.
CDS has added a new sales position, based in Milan, to improve support of its existing customers in Italy and other parts of Europe and to develop its business with manufacturers of premium sunglasses in the region.
The role was assigned to Pablo Nieto at the end of June after more than one month of in-house training. He joins Agnès Pellerin, who will continue to take care of customers in other countries out of CDS' head office in France.