Suominen reports its sales from continuing operations increased 7% to $144 million during the fourth quarter and the company expects sales to remain at the same level in 2014. Operating profit is expected to improve. Full year sales at Suominen were $594.1 million.
“In Europe, the increase in the consumer confidence index that held steady for most of 2013 began to level out towards the end of the year, says Nina Tivoila, CEO. “In the U.S., following a slight downturn in consumer confidence in the third quarter, the index began to rise as year-end approached, and in December it had reached its highest level in more than five years.”
As part of the renewal process, Suominen’s previous Nonwovens business unit was divided into two new business areas effective January 1, 2014: The Convenience business area focuses on serving customers that manufacture wiping products as well as travel and catering nonwovens, while the Care business area is concerned with customers that manufacture health-care and hygiene products. As of January 2014, Convenience and Care business areas will be reported in the Nonwovens segment, which is equal to the current Wiping segment.
“Strategic development programs involving our nonwovens business progressed as planned in the fourth quarter. The objectives of the programs are to harmonize and boost the efficiency of our delivery chain processes and to accelerate our product development,” she adds.