Finland: Keitele Group stops exports to Asia due to port strikes

The port strikes in Finland, which has been ongoing for the fourth week, has stopped Keitele Group's export shipments to the company's main market in Asia. Almost 95 percent of the group's production is exported, a large part in containers to the Far East. Therefore, inventories of finished goods have increased. The customers are also not ready to order normal quantities for the second quarter due to the weak delivery reliability. Orders are being lost to competitor countries, which is reflected in the order backlog. The company estimates that after the strike, the normalization of ...