Dear customers, business partners and Fortaco team,
The Corona crisis is still reality for all people around the globe. Countries are using their best knowledge and experience to reduce and eliminate the crisis. We are all impacted, harder or softer. Most probably, we will experience a new normal when Covid-19 is a new illness in our global society.
Since the beginning of March, Fortaco has taken serious actions to safeguard our employees, customers and business partners, and to keep our deliveries as promised to our customers. I am very honored to see a strong commitment by everybody involved in the complex supply chain, including the Fortaco team. Despite of somewhat declined net sales 2020 year-to-date, we have taken extraordinary actions and improved profitability. We have also strengthened our liquidity in case it is needed going forward.
New Chairman of the Board
Mr. Panu Routila has been appointed the Chairman of Fortaco Group Board of Directors as from May 2020. Mr. Routila has served as President & CEO at Konecranes and Ahlström Capital. Mr. Peter Augustsson has successfully chaired Fortaco Group since company’s establishment 2013.
Factory extension in Narva
Fortaco’s strategic investment in Narva, a new factory of 10.000 m2, is proceeding exactly according to the plan. Operational take over takes place in coming days. More information to be released after summer.
Make Tomorrow Safer and Better
Fortaco’s operational focus is on safety, quality, delivery performance and productivity, according to our strategic approach “Make Tomorrow Safer and Better”. By continuous development we have successfully been improving our performance.
Outlook for autumn
Fortaco is perceiving the outlook for autumn to large extent unknown. The Corona crisis is still alive with the releases of restrictions, depending on country and specific situations. We have updated our scenario plans for autumn to be prepared, varying from a slight optimistic to a less optimistic, equal to the second quarter net sales.
As of beginning of August, we are going to allow visitors at our Business Sites; changes might occur, depending on Covid-19 development. Since the beginning of March, our approach is “no panic”, we are managing our operations professionally day by day – and this is still valid.
I would like to thank you for your trust, and I am wishing all of you a nice summer period. Stay safe and healthy!
With best regards,
Lars Hellberg
President & CEO
