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Suominen’s profits up nearly 50%

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By: Tara Olivo

Associate Editor at Nonwovens Industry, Rodman Media

For the fourth quarter ended December 31, 2014, Suominen’s net sales rose 16.6% to $118.9 million (€104.8 million). Operating profit, excluding non-recurring items, increased by 49.3% to $7 million (€6.2 million). Full year net sales rose 7.5% to $454 million (€401.8 million).

Suominen plans on executing a strategy from now until 2014 that aims at growth and product leadership. This includes a growth investment program with the first efforts to take place at the company’s plants in Paulínia, Brazil, and Alicante, Spain. The company also announced the construction of a new production line in North America, which is Suominen’s “largest single project in its growth investment program.” The company anticipates sales and profits will grow this year compared to last.

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