Eternit reports higher 2009 profits

Belt tightening, selective expansion, offset lower turnover.

{reg} Despite adverse economic conditions, Swiss fiber cement producer Eternit has reported that its profits rose in 2009.

The company reported that its profits in 2009 rose by 5.9 million Swiss francs compared to 5.1 million in 2008. It added that its sales fell last year due to tough financial conditions in its export markets.

Eternit offset its lower turnover with a cost cutting plan coupled technological developments that allowed it to expand. The company acquired two plants in Payerne and Niederurnen. Its roofing application also expanded in 2009 with production growing up 6%.

Apart from traditional roofing and wall panels, Eternit's products also include plant pots, garden designer chairs or shelves made from fiber cement. {reg/}