Lindab International AB a Swedish maker of steel ventilation parts and building components, fell to the lowest level in four months after saying weakening demand had accelerated in the third quarter and continued in the fourth.
The company said in a statement that “Fourth-quarter sales will also be affected by the harsher winter weather conditions we are experiencing in December in several markets, mainly affecting Building Components. For 2013 we expect a weak start given the current market conditions.”
Lindab fell as much as 5.5% to 41.6 kronor, the lowest price since August 16. At 10:21 AM in Stockholm the stock was down 4.9% in its seventh day of losses, valuing the Baastad-based company at 3.29 billion kronor (USD 494 million). Trading volume was more than half of the three-month daily average.
According to its annual report, the manufacturer had 74% of its sales in the Nordic region and western Europe last year.
