ANSONIA, Conn. (April 4)—Rubber and plastics machinery maker Farrel Corp. suffered a net loss of $983,000 on sales of $64.2 million last year, compared with net income of $1.8 million on sales of $74.4 million in fiscal 1999, the company reported. Farrel, manufacturer of the Banbury and Intermix internal mixers, blamed the loss on the effects of weak market conditions in Europe—where sales fell by $10 million—and the detrimental effect of the strength of the dollar and the British pound vs. the euro, according to Rolf K. Liebergesell, chairman and CEO. Farrel´s board of directors suspended dividend payments for the third and fourth quarters, and the company will focus on cost-cutting measures to reverse the negative earnings trend, Liebergesell said. Farrel is in danger of losing its listing on the Nasdaq stock exchange; Nasdaq notified Farrel in mid-January that because its stock has traded below the $1 per share level for 30 consecutive days, it would be de-listed unless the stock price rebounded. April 11 is the cut-off day.
Farrel Corp. reports losses in 2000
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