STOCKHOLM, Sweden — A weak North American truck and trailer market has prompted Haldex to announce it will be adjusting its earnings forecast for the current year.
The company announced that Due to the continued weak state of the market for trucks, as well as new forecasts for trailers and hydraulic products for the North American market, combined with the consequences of the production problems experienced in Garphyttan during the year and the impairment loss posted for inventories of stainless products, Haldex’s assessment is that its operating profit for the current year will be somewhat lower than in the preceding year.
The company also said its second half earnings have been negatively impacted by the weak exchange rate for the US dollar. Haldex has also been hurt by reduced demand for hydraulic products for industrial vehicles, the company said.
Originally, Haldex predicted it would match last years net sales since it could compensate for the expectedly poor North American truck market with increases in traction systems. However, sales of those units have fallen short.
Haldex will present its interim report for the January to September period on Oct. 25.
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