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In The News:

Atlas Copco Organic Sales Fall 17% In 1Q

Swedish manufacturer Atlas Copco reported sales of MSEK 16,577 (US$2 billion) for the first quarter of 2009, down 3% from the prior year term. Organic sales were down 17%. Profit fell 42% to MSEK 1,378.
Since October 2008, headcount has been reduced by 3,800 and is likely to be reduced by around 1,200 more during the coming quarters.
The economic situation still makes the outlook very uncertain. Demand is however expected to remain weak in most industries and regions and stay around the current level.

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