Printing paper manufacturer CPH has to reduce profit expectations
The financial crisis is also leaving its mark on the paper industry: Chemie und Papier Holding (CPH) is feeling the effects of companies' reluctance to spend on advertising. The Lucerne-based company is therefore reducing the profit forecast it formulated in the summer.
The financial crisis is also leaving its mark on the paper industry: Chemie und Papier Holding (CPH) is feeling the effects of companies' reluctance to spend on advertising. The Lucerne-based company is therefore reducing the profit forecast it formulated in the summer.
CPH expects demand for magazine paper to weaken significantly in the normally strong fourth quarter. In addition, investment projects are being canceled in both the USA and Europe as a result of the financial crisis. Sales of molecular sieves are suffering as a result, CPH announced at the end of last week.
The results of the Paper and Silicate Chemistry divisions will also continue to be adversely affected by high energy and raw material costs and the depreciation of the euro. CPH's 2008 operating result will therefore be lower than last year's, according to the press release.
CPH expects demand for magazine paper to weaken significantly in the normally strong fourth quarter. In addition, investment projects are being canceled in both the USA and Europe as a result of the financial crisis. Sales of molecular sieves are suffering as a result, CPH announced at the end of last week.
The results of the Paper and Silicate Chemistry divisions will also continue to be adversely affected by high energy and raw material costs and the depreciation of the euro. CPH's 2008 operating result will therefore be lower than last year's, according to the press release.
