Sandvik Hit by Falling Nickel and Fewer Orders ; Engineering
Birmingham Post › July 19, 2008
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Summary
Swedish engineering group Sandvik has missed expectations for second-quarter pre-tax earnings and order bookings.
Hit by lower nickel prices and unfavourable currency rates, the speciality tool and machinery maker said pre-tax profit fell to pounds 277 million from pounds 320 million a year ago.See the full content of this document
Extract
Sandvik Hit by Falling Nickel and Fewer Orders ; Engineering
The fall in nickel lowered the value of Sandvik's inventories of the metal by pounds 14.7 million...
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