Suominen, a leading global nonwovens manufacturer, recently announced the launch of a 24-month global cost-saving plan to ensure long-term profitability and enhance market competitiveness. It is reported that the plan is expected to save about 10 million euros and may affect about 60 jobs worldwide.
Tommi Björnman, President and CEO of Suominen, said: "We have launched this cost-saving program to optimize structural costs in global operations and functional departments to ensure profitable growth for the company. This is an important measure to improve competitiveness and profitability, and will also further promote our investment in innovation and sustainable development, and maintain close cooperation with customers."
According to Suominen's first quarter 2025 financial report, the company's sales increased by 3.4% year-on-year to 17.5 million euros, despite a decline in overall sales volume. However, due to rising operating costs, the company's comparable EBITDA fell from 4.5 million euros to 4.1 million euros.
Björnman further pointed out: "The market in the first quarter of 2025 was still full of uncertainty. The global supply chain was hit by geopolitical tensions, especially tariffs, which led to more cautious measures. This also led to an increase in inventory levels of imported goods in Asia. However, despite the decline in consumer confidence, demand for our products remained stable in this quarter."
Faced with an increasingly complex global market environment, Suominen will continue to deepen cost structure optimization while increasing investment in innovation and sustainable development to ensure long-term competitiveness and provide customers with more valuable nonwoven solutions.
Delivery is prompt!
By 10-year industry experts!
Diverse payment methods available!
Unbeatable cost performance!
