In July–September 2019, Suominen’s net sales were on the same level as in the comparison period, decreasing by 1% to €103.4 million ($115.4 million). The strengthening of the USD compared to EUR increased the net sales by €2.7 million ($3 million). 

Since July 1, Suominen has two new business areas, Americas and Europe. Net sales of the Americas business area amounted to €66.2 million ($73.9 million) and net sales of the Europe business area €37.2 million ($41.5 million).

“I am confident that with our new business areas, Europe and Americas, we now have clear responsibilities and accountabilities and I strongly believe that this will result in improved performance in the future,” says Petri Helsky, president & CEO. “We can also already see results from our variable cost optimization program launched in early 2019.

“At our new manufacturing line in Bethune, SC, U.S., the systematic improvement plan that we put in place earlier this year has resulted in a clear improvement in operational performance. We have conducted several customer qualification runs during the quarter, and we will continue broadening the product and customer portfolio of this line. Our investment project at our plant in Green Bay, WI, U.S., has proceeded smoothly and is nearing completion. The customer feedback on the enhancement of the line has been positive.

“We can see that customers are more and more interested in our sustainable product portfolio. We are preparing for the growing demand of sustainable alternatives by continuously developing new products into our portfolio consisting of products made of renewable, recycled, compostable and plastic-free raw materials.”