Exel Oyi informed its shareholders yesterday about the effect of continued problems with its pole and floorball businesses, indicating that the Finnish group is still looking for a strategic partner interested in developing its sports business in the long term. According to company information, the shift of production to China has caused ongoing difficulties in terms of quality problems and delayed deliveries. The Finnish company says the sporting goods market continues to be flat, causing an overstock problem that will cause inventory writeoffs and equipment writedowns of €4.2 million for the 3rd quarter. As a result the group is expected to post a pre-tax loss of €2.9 million in the quarter, of which the sports division is held accountable for €3.5 million. Third-quarter results will be published on Oct. 30.