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Please find below all Forbo media releases listed by year.
Eglisau, January 25, 2002
In the business year 2001, the Forbo Group with its global activities in floor coverings and industry specialties achieved net sales of CHF 1 485 million. This includes nine month sales up to the end of September 2001 of the divested carpets business. Sales of the continued business totaled CHF 1 354 million in 2001. In local currencies, this is 1 percent less than in the previous year, or 5 percent in Swiss Francs, respectively.
Business slowed down especially in the third quarter and stagnated in the fourth quarter, 3.2 percent below the previous year's level, in local currencies. In the flooring business, linoleum recorded a slight increase by 1.8 percent in currency-adjusted terms at annual sales of CHF 400 million. Sales of vinyls declined by 3.1 percent to CHF 324 million.
Belting suffered from weak markets for capital goods, resulting in a decrease to CHF 348 million or 5.3 percent in local currencies. The adhesives business showed a positive development, with sales up 9.2 percent to CHF 219 million or 6.0 percent without acquisitions.
As already announced in November 2001, the company is expecting a consolidated profit in the range of CHF 50 million. Forbo will inform in detail on the financial statements at the conference with the media on March 26, 2002.
As already announced in November last year, Forbo intends to acquire the SWIFT adhesives business from Reichhold Inc. (North Carolina, USA). Upon the conclusion of due diligence, a principal understanding covering the general terms and conditions of the transaction has been reached this week. The process of negotiation of a definitive purchase agreement has commenced, and the transaction is foreseen to be consummated by the end of March following the completion of negotiations, acceptance from the respective companies' Board of Directors and approval from the relevant competition authorities. The intended acquisition is in line with Forbo's strategy to grow in its core activities. It would generate additional sales of CHF 400 million per year in Forbo's adhesives business, with CHF 240 million stemming from the USA.
Forbo is a global producer of floor coverings and industrial specialties. The company employs some 5 200 people worldwide and has an international network of 22 production companies in 12 countries and 58 marketing organizations in 26 countries.
Head of Corporate Communications
Tel: + 41 1 868 25 69
Fax: + 41 1 868 35 69
Chief Financial Officer
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Fax: + 41 1 868 25 26