Negative result expected at Von Roll
The industrial group Von Roll has said it expects to post a negative result for 2001, and anticipates a difficult fourth quarter.
Orders at Von Roll Isola and Von Roll Infratec have fallen by more than 20 per cent since mid-September, the company said on Wednesday.
Von Roll pointed out in its statement that the company was experiencing higher financing costs and negative exchange rate developments.
The Zurich-based company said it had managed to achieve the improvements planned for the three-year restructuring programme ‘FOCUS 2000’.
Halfway through the programme, 80 per cent of the projects had been implemented successfully, according to the company. However, negative market influences neutralized the improvements that have already taken effect this year.
Von Roll said that in response to the aggravated market situation, it was introducing short-time work in the Von Roll Infratec foundries and the Von Roll Isola plants in France, Spain and Germany. Additional cost-reduction measures will also be taken soon.
Von Roll Infratec and Von Roll Isola experienced falling demand in the automotive, machinery, equipment manufacture and electronic segments in particular.
A positive 3rd quarter course was posted by Von Roll Isola’s electrical insulation materials and Von Roll Inova’s waste treatment plant engineering segments
Net profit for the group as a whole in 2000 was SFr6 million ($3.7 million) after a loss of SFr102 million in 1999.
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