Sweden-based Alfa Laval, a manufacturer in heat transfer, centrifugal separation and fluid handling reported sales for 2009 were SEK 26.03 billion (US$3.52 billion), a decrease of 14% excluding exchange rate variations. Profit declined 28.1% to SEK 2.74 billion (US$370 million).
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For the fourth quarter, sales were SEK 6.56 billion, down 19% from the prior year period excluding the impact of foreign exchange. Profit declined 24.5% to SEK 2.74 billion million (US$85.5 million).
Fourth quarter order intake volumes increased by 7% compared to third quarter 2009, primarily in the energy area. Geographically, order intake increased in Central & Eastern Europe, Latin America and Asia. Order intake in North America and Western Europe (including Nordic), with the exception of France, was considerably down in the fourth quarter.
During the first half of 2009, the company announced capacity and cost reduction measures to be implemented including work force reductions equivalent to 1,700 FTEs. As of Dec. 31, reductions of 1,400 FTEs had been completed.