Diab is a global company that develops, manufactures and sells core materials for sandwich composite structures used in, among other objects, leisure boats, wind turbine blades and components for aircraft, trains, industrial applications and buildings. The core materials have a unique combination of characteristics such as low weight, high strength, insulation properties and chemical resistance. The company has production units for material in Sweden, Italy, the US and China. Material processing takes place in the production units as well as in Lithuania and Ecuador.
The market for core material is growing rapidly as a result of the underlying demand for energy efficiency, which is leading to a greater need for high-strength, lightweight solutions.
A strong market in the Wind Solutions business area combined with continued high demand in marine and aerospace contributed to strong growth for Diab during the year. Diab improved its earnings through measures to boost profitability, implementing a new governance model and increasing its sales. During the year, Diab signed a five-year supplier contract for core materials with Vestas, one of the world’s leading suppliers of wind turbines. The contract is expected to generate net sales of SEK 2–2.5 billion through 2023.
Diab’s products contribute to the increased growth of renewable energy (expansion of wind turbines) and reduced energy consumption by using lightweight solutions. Diab is thus actively contributing to a more sustainable society. Diab places considerable emphasis on sustainability issues, such as energy usage in the company, safety and ethics. Therefore, the company has policies, processes and activities in place to manage the risk of corruption and fraud. Diab is the first company in the world within the field of composite materials whose science-based climate targets have been approved to lower its carbon footprint by 2050.