There is gloomy news from Ahlstrom, which reports that its main markets, including key fields for nonwovens such as transportation filtration, did not recover as previously anticipated after the summer holiday period.
As a result, the company reports an operating loss of €17.3 million for the quarter from July to September, on net sales €389.7 million.
“We anticipate that the market slowdown will continue, and as a result have changed our guidance for 2011,” said president and CEO Jan LÃ¥ng in a statement. “We are taking firm action to address our underperforming businesses and to streamline further our cost base to gain efficiencies in the supply chain structure. This unfortunately also leads to personnel reductions, which are necessary in order for us to remain competitive and profitable.”
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