DETTINGEN/ERMS, Germany (March 27, 2008) — ElringKlinger A.G.reported double-digit growth in both sales and earnings, boosted by original equipment sales growth, for fiscal 2007.
Sales rose 15 percent to $959 million, based on the current exchange rate, while net income increased 29.7 percent to $126.8 million. The automotive supplier said it expects further sales and earnings growth during the 2008 financial year.
Expenditures on the development of new products and technologies rose to $47 million in 2007, the main focus being on investments aimed at expanding production capacity and initiating production for new products.