The contrasting fortunes of two major diaper manufacturers in Europe are highlighted in their recent annual reports, with SCA reporting a 17% increase in the sale of diapers mainly related to new contracts in Europe, but also to higher sales in Latin America and acquisitions in Asia.
Kimberly-Clark, meanwhile, reports that it expects to incur charges of between $250-350 million as a result of its decision to withdraw its Huggies from the diaper market in Western and Central Europe, with the exception of in Italy. K-C said that although its diaper business in these countries was generating annual sales in the region of $500 million, operating profit was negligible.
Elsewhere, however, the company reports major gains.
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