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Swissmetal anticipating negative operating results Dornach, December 22, 2010 Swissmetal reaped the benefits of a clearly improved economic climate in the latter half of 2010, achieving excellent capacity utilisation and keeping order books well filled. However, the company is nonetheless expecting a negative operating result in the region of CHF 10 - 14 m for the current year, before non-recurring items. This is largely attributable to an unfavourable Swiss Franc/Euro currency situation, a less than optimal product mix, and the additional costs associated with ATMOVA. For 2011 the company intends to focus more strongly on the needs of the market. As a consequence of this, the group has decided to curtail the business operations of its subsidiary Swissmetal Design Solutions AG (ATMOVA), which was established in 2007. The sale process is initiated. |
