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Decreased Demand Lowers Kemira's Earnings; Downward Volume Trend Has 'Halted'
8:38 AM MDT | October 28, 2009 | Kerri Walsh
Kemira's third-quarter net income fell 15%, to €41 million ($61 million), on sales down 17%, to €646 million. Operating profit rose 16%, to €65 million. "Sales volumes have declined this year as demand has shrunk in several customer industries, but this downward trend appears to have halted," says president and CEO Harri Kerminen. Profits rose, but sales fell in the paper division. Paper demand has fallen in print media and printed merchandizing items mostly in North America and Europe, Kemira says. Paper demand has...
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