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Aspocomp H1 Sales Down 45.1% YoY

Published: 13 August 2009
 by Staff
ESPOO, FINLAND – Aspocomp Group reported first-half net sales of $8.81 million (€6.2 million), down 45.1% year-over-year.

For the period ended ended June 30, the operating loss before depreciation was $850,000 (€ -0.6 million) and the operating loss was $1.71 million (€ -1.2 million).

"The market remained challenging," said said Sami Holopainen, president and CEO. "Due to decreased net sales, the Oulu [Finland] plant's result turned red. The market is expected to remain challenging throughout the year 2009. EBITDA is likely to be negative."

Aspocomp's five largest customers accounted for 80% of net sales. The workforce as of June 30, was 106, down 32% year-over-year.

Aspocomp once was one of the largest PWB fabricators in Europe.

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