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HELSINKI Bradley Roby Womens Jersey , Sept. 26 (Xinhua) -- Finnish elevator company Kone has launched a program to support profitable growth, which will result in reducing about 1,000 employees worldwide, the company said on Tuesday.
The program is aimed to accelerate the execution of its Winning with Customers strategy to support profitable growth, issued at the beginning of 2017, announced Kone in a press release.
The target of the program is to generate cost savings of about 100 million euros annually, and will cause approximately 1,000 redundancies globally over the next three years until 2020.
Founded in 1910 and headquartered in Espoo, southern Finland, Kone is the fourth largest manufacturer of elevators and escalators in the world. Currently, the company employs some 52,000 personnel worldwide.
Since 2016, Kone's net sales and operating profit has shown a downward trend, as orders received in the Asia-Pacific region decreased due to a decline in its significant Chinese market.
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BEIJING, Sept. 27 (Xinhua) -- China's major industrial firms posted faster profit growth in the first eight months of this year, the National Bureau of Statistics (NBS) said Wednesday.
Industrial companies with annual revenue of more than 20 million yuan (about 3.02 million U.S. dollars) reported profits of 4.92 trillion yuan in the first eight months, a 21.6-percent increase from one year earlier, the NBS said in a statement.
The strong growth marks a pick-up from the 21.2 percent in the January-July period.
In August alone, profits of major industrial firms rose 24 percent year on year, much faster than the 16.5-percent growth in July, the NBS said.
Among the 41 industries surveyed, 39 posted year-on-year profit growth during the first eight months.
NBS statistician He Ping said the strong growth was a result of price hikes in industrial products and lower production costs.
China's producer price index (PPI), which measures costs of goods at the factory gate, rose 6.3 percent year on year in August, 0.8 percentage points higher than the July level.
The price rebound has added some 127.3 billion yuan to the August industrial profits, accounting for 31.2 percent of the total profit increase last month, said He.
Meanwhile, for each 100 yuan of revenue, companies had to spend 85.44 yuan, a 0.64-yuan decrease from the same period last year, NBS data showed.
He also mentioned that the leverage ratio of Chinese industrial firms is on the decline amid the government's ongoing supply-side structural reform. By the end of August, their debt-asset ratio dropped 0.7 percentage points from a year ago to 55.7 percent.
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