Sweden-based Alfa Laval, a manufacturer in heat transfer, centrifugal separation and fluid handling, reported sales for the first quarter 2010 were SEK 5.4 billion (US$752.2 million), a decrease of 16.9 percent excluding exchange rate variations. Profit declined 19.5 percent to SEK 615 million (US$85.7 million).
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Order intake volumes declined by 6 percent compared with fourth quarter 2009, primarily a result of a smaller number of large orders. Base business remained unchanged.
Geographically, order intake was substantially lower in Western Europe and Asia in a year-over-year comparison, while Central and Eastern Europe remained flat. North America and Latin America posted increases.
During the first quarter the work to adjust capacity and costs to the decreased demand continued. As of March 31, a personnel reduction equivalent to about 1,460 FTEs had been completed.
