Latest Scandinavian Business News

Opening of Sandvik Coromant Productivity Center

Hosted by Southeast Asia General Manager Jean-Louis Macey, the grand opening of Sandvik Coromant Productivity Center in Bangkok was held on July 10 in presence of Swedish ambassador Klas Molin. The Productivity Center offers Swedish tooling solutions for the metal working industry, focusing on cost minimization and increased productivity for its customers. Source: Embassy of…

Maersk’s massive container vessels to deploy on Asia-Europe route

Maersk Line has deployed the world’s largest container ship on its China services to serve the nation’s growth in foreign trade. The first of the series of Triple-E vessels owned by Maersk Line, the shipping unit of Denmark’s AP-Moller Maersk shipping and oil conglomerate, made its maiden call at the Shanghai Yangshan port on July…

Nokia misses estimates; sales to China halve

Finnish mobile maker Nokia shipped fewer phones than forecast in the second quarter, despite a 32 percent rise in sales of its flagship Lumia smartphone. Shares traded down 4.26 percent after the news, as mobile phone sales disappointed, falling by 4 percent to 53.7 million units, below market expectations of 56.2 million. Shipments of Lumia smartphones…

Sweden’s Alfa Laval points to stability in Chinese market

Investors in China may feel more upbeat if they consider the evidence of growth there in the latest results from Swedish company Alfa Laval, which makes equipment for heat transfer, separation and fluid transfer in sectors such as food and water, energy, environmental protection and pharmaceuticals. According to its latest interim report, Lars Renström, president…

Norwegian REC to base its solar business in Singapore

Loss-making Norwegian solar equipment maker Renewable Energy Corporation will split the company into separate solar and silicon divisions, independently list the two, raise cash and move out of Norway, it said on July 18. REC said it would it will downsize its headquarters outside Oslo, selling off its solar panel division to existing shareholders, move…

Double A invests in technology from Finland to upgrade Thai pulp plant

In response to significant growth in the market and the global demand in many enterprises, Double A has invested USD 6.1 million to upgrade its pulp production line in Thailand using modern technology from Finland. The machine will commence commercial production at the beginning of 2014 with 175,000 tons annual capacity. The first 100,000 tons…