“We anticipate that the market slowdown will continue, and as a result have changed our guidance for 2011,” says president and CEO Jan Lång 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.”
The company reports that total sales volumes in tons fell 3.6% from the comparison period of the prior year. The decline effected sales volumes in the Filtration (-6.8%) and Label and Processing (-6.5%) business areas, whereas Building and Energy (+3.7%) and Food and Medical (+7.5%) reported an increase. Total sales volumes excluding the impact of
divestments and new assets decreased by 1.9%.