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Höganäs up again
Swedish metal powder major Höganäs has reported
full year net sales for 2004 up 11 per cent at SEK 4162 million,
with income after tax of SEK 424 million, up nearly 20 per
cent on the previous 12 months, even though the company said
that the strength of the Swedish Krona in the international
markets had had a distinct negative effect.
Much of the increased turnover, it said, came as a result
of surcharges imposed because of sharply rising raw material
prices.
Demand in Asia excluding Japan was very robust and volumes
grew by 24 per cent, with the highest growth in China, Korea
and India.
• Höganäs' retiring chief executive Claes
Lindqvist is to be replaced by Alrik Danielson, the 42-year
old president of SKF's Industrial Division after the annual
general meeting in May.
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