2011 ends with sharp upturn in order intake for Raute

The Finnish machinery manufacturer Raute experienced a substantial recovery in order intake over the last few weeks of 2011. The company had previously booked a significant slump in incoming orders in the second and third quarters after a positive first quarter. Raute thus issued a profit warning at the start of November 2011. At that point in time, Raute also anticipated that it would mostly book minor modernisation projects in the foreseeable future. However, just days after the profit warning was issued, Raute landed an order from Kohila Vineer to supply an entire veneer line. The order is valued at €6m. Another major order valued at €16m followed in December - the essential components for another plywood line at a mill in Mininco, Chile run by Empresas CMPC. All in all, the company generated orders valued at €31m in the final quarter of 2011. Order intake stood at €77m in 2011 as a whole. The positive trend in ordering intensified at the start of the New Year: Paneles Arauco placed a €50m order with Raute in early February 2012 for new machinery to rebuild the Nueva Aldea plywood mill.