New facility in Malmö, Sweden strengthens support for healthcare customers in Scandinavia and Europe with specialized material solutions.
ROMEOVILLE, IL / ACCESSWIRE / February 5, 2024 / Formerra, a leader in performance materials distribution, announces the opening of a new warehouse in Malmö, Sweden, marking a significant step in its global expansion strategy. The modern facility will support existing customers with an emphasis on serving the growing production demands of medical device and equipment production in Europe.
Formerra Global Distribution Network Formerra’s facilities network has expanded to include a new warehouse in Malmö, Sweden that will serve medical device OEMs and suppliers in Europe and Nordic countries.
The new Nordic hub underscores Formerra’s commitment to providing tailored solutions to customers where needed in support of meeting the stringent requirements of the healthcare industry. By pairing an expansive portfolio of products from leading suppliers with its expertise in REACH certification and US-manufactured medical-grade materials, Formerra is uniquely positioned to help customers navigate the complexities of healthcare regulations, ensuring rapid compliance and market entry.
"With this new facility, Formerra is expanding geographically and, at the same time, intensifying our focus on the healthcare sector, where precision, reliability, and rapid innovation are paramount," explains Cathy Dodd, Chief Executive Officer at Formerra. "Our Malmö warehouse provides Nordic and European customers with a gateway to advanced material solutions, designed to meet the rigorous demands of their medical applications."
This network expansion further represents Formerra’s deep understanding of the healthcare industry’s challenges, ranging from the growing government regulations to global trade requirements. Housing a comprehensive range of materials capable of supporting these demanding requirements, the new facility positions Formerra as a vital partner in the development and production of medical devices and equipment.
The Malmö facility is strategically located to ensure efficient distribution across Europe. Likewise, the new warehouse will complement Formerra’s existing presence and warehouses in Ireland and the UK, the result of its acquisition of distributor Total Polymer Solutions (TPS) in April 2023. TPS has officially been renamed Formerra, a significant milestone in integrating this important acquisition and expanding the Formerra brand and presence into Europe.
Formerra’s vision extends beyond healthcare. The Malmö location sits amid regional hubs for growth industries such as telecommunications, electronics, powersports, and utility vehicles, industries Formerra currently serves.
Formerra will be exhibiting at MD&M West in Anaheim, California this week in Booth 610.
About Formerra
Formerra is a preeminent distributor of engineered materials, connecting the world’s leading polymer producers with thousands of OEMs and brand owners across healthcare, consumer, industrial, and mobility markets. Powered by technical and commercial expertise, it brings a distinctive combination of portfolio depth, supply chain strength, industry knowledge, service, leading e-commerce capabilities, and ingenuity. The experienced Formerra team helps customers across multiple industries to design, select, process, and develop products in new and better ways – driving improved performance, productivity, reliability, and sustainability. To learn more, visit www.formerra.com.
SEOUL, SK Telecom Co., South Korea’s leading mobile carrier, said Monday its fourth-quarter net profit decreased 16.2 percent from a year earlier due to a base effect of operating costs.
The net profit came to 187.4 billion won (US$141.7 million) for the October-December period, compared with 223.7 billion won a year ago.
Operating profit rose 16.7 percent on-year to 297.1 billion won, and revenue increased 3 percent to 4.52 trillion won.
For the whole of 2023, the telecom giant reported a net profit of 1.15 trillion won, up 20.9 percent from a year earlier.
The annual operating profit reached 1.75 trillion won, compared with 1.61 trillion won from the previous year. Annual sales rose 1.8 percent to 17.6 trillion won.
The company said its fourth-quarter net profit decreased from a year earlier due to a base effect from a concentration of business spendings in the period, but it posted solid yearly earnings on the growth of its artificial intelligence (AI) business.
In the AI infrastructure division, SK
Telecom saw its data center sales jump 30 percent on-year last year.
The company said it plans to focus on building a new AI data center this year and work to break into the global market amid growing demand for next-generation data centers in the AI era.
SK Telecom also plans to expand its global telco-specific large language model business.
Sales in the enterprise division, which encompasses business-to-business items, gained 8.1 percent on-year to 1.63 trillion won last year.
In particular, the business-to-business cloud service saw sales advance more than 36.6 percent to 146 billion won in 2023.
The company said it will work to gain a foothold in the global urban air mobility and AI healthcare markets in cooperation with U.S. companies this year.
SK Telecom said it will strengthen its AI service businesses, applying AI technology on its metaverse platform, ifland, and upgrading its conversational AI app, A.
For the mainstay telecom unit, SK Telecom’s chief financial officer Kim Yang-sup said in a c
onference call that the growth rate of fifth generation (5G) network subscribers and sales in the wireless business have been slowing down.
In the fourth quarter, SK Telecom had 15.7 million 5G subscriptions, compared with 15.1 million in the previous quarter.
SK Telecom set its annual sales target at 17.9 trillion won, up 2 percent on-year, for 2024.
The mobile carrier also said it has finalized a 300 billion-won share buyback program and plans to hand out a cash dividend of 1,050 won per share to its fourth-quarter stockholders.
SEOUL, Lotte Chilsung Beverage Co. on Monday reported its 2023 net income of 166.5 billion won (US$125.1 million), up 27 percent from a year earlier.
The company said in a regulatory filing that operating income for the year fell 5.5 percent on-year to 210.7 billion won. Annual revenue increased 13.5 percent to 3.22 trillion won.
SEOUL, Lotte Chilsung Beverage Co. on Monday reported its fourth-quarter net profit of 35.3 billion won (US$26.5 million), up 509 percent from a year earlier.
The company said in a regulatory filing that operating income for the October-December period fell 67.3 percent on-year to 8 billion won. Sales increased 37.3 percent to 918.4 billion won.
The earnings beat market expectations. The average estimate of net profit by analysts stood at 7.1 billion won, according to a survey by Yonhap Infomax, the financial data firm of Yonhap News Agency.
