ANSONIA, Conn. (Nov. 8)—Rubber machinery maker Farrel Corp.´s losses continued in the third quarter, a situation the company blames on declining sales on the weakness of the euro against the U.S. dollar and British pound. For the quarter ended Oct. 1, Farrel reported a net loss of $302,000 vs. a net profit of $1.1 million for the same period last year. Third-quarter sales, at $16.9 million, were 16-percent lower than in 1999. "The market continues to be highly competitive and the company is facing increased pricing pressures from competitors as a result of the substantial decline in the euro," said Rolf Liebergesell, Farrel chairman and CEO. For the nine-month period, Farrel recorded a net loss of $1.7 million on sales of $44 million, compared with net income of $1.3 million on sales of $50.7 million a year ago.
Farrel blames weak euro for losses
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