Thank You For a Great Year

Year 2011 has been dynamic and succesful for Finnradiator Ltd. Thanks to our versatile customer base and the fact that we are partnering with companies who are market drivers in their own spesific sectors, we’ve been able to remain competitive during the economic climate of post-crisis period.

We’ve seen upturn in almost all industries and customer segments, including agriculture, material handling and construction sectors. For Finnradiator Ltd orders increased significantly and were getting closer to pre-crisis levels. The export share of sales increased as in the previous year, which is an vital parameter for us.

This year has not been without challenges. We saw copper prices averaging above US$ 10,000 per tonne during Q1 of 2011, which is an unbearable level for most of the markets. In comparison to year 2010, the average copper price alone rose by 57 %. Outstanding demand of red metal from China and other emerging markets combined with shrinking production and speculations on the part of investors and raw material funds has driven up copper prices, and exhaust almost all exchange stocks. Price levels which we have seen 2011 has increased the risk of copper being replaced by other materials such as aluminium in heat exchanger market. This is the reason, why we at Finnradiator Ltd, have developed our CuproBraze technology to serve the demand from sectors where operational and environmetal requirements favor the use of more precious metals. As a rule of thumb, these sectors and applications include most of the heavy-duty on- and off road vehicles.

Finally, we want to thank our customers, suppliers and other partners for the year 2011. We appreciate your business. We at Finnradiator are looking forward to a continued and mutual cooperation also in 2012 and the years beyond.