In the July–September 2016 quarter, Suominen’s net sales declined by 10% from the comparison period last year to €103.8 million ($113.2 million). Decrease in sales volumes was the primary reason for the decline in net sales. Fluctuations in USD/EUR exchange rate did not have any material effect on the net sales in the third quarter.

Suominen has two business areas, Convenience and Care. The Convenience business area supplies nonwovens as roll goods for a wide range of wiping products, while the Care business area manufactures nonwovens for hygiene products and medical applications. Net sales of the Convenience business area in July–September were €96.7 million ($105.4 million) compared to €107.5 million ($117.2 million) the year prior and net sales of the Care business area were €7.1 million ($7.7 million) compared to €7.5 million ($8.2 million) the year prior.

In September, Suominen announced that for the full year 2016, its net sales and comparable operating profit are expected not to reach the level of 2015. In 2015, Suominen’s net sales amounted to €444 million ($484 million) and comparable operating profit to €31.2 million ($34 million).

Nina Kopola, president & CEO, comments: “We have implemented our strategy with determination, but the projects included in the growth investment program and our R&D efforts are creating growth at a slower pace than we had anticipated. The largest of the investment projects, i.e. the construction of a new production line in Bethune, is progressing and the equipment installation work is advancing at high speed. We reiterate our estimate according to which the new production line will begin deliveries to customers in the first quarter of 2017.”