DETTINGEN/ERMS, Germany (April 15, 2009)—ElringKlinger Group said its consolidated sales generated rose 8.2 percent in 2008 to $869.7 million, but operating profits fell 38.3 percent.
The firm its purchase of the Swiss SEVEX Group and the expansion of the interest held in ElringKlinger Marusan Corp. Japan boosted the sales figure. Howver, in the fourth quarter, business performance was impacted by the severe slump in demand in automobile markets in North America and Europe.
ElringKlinger said the sudden slump in demand for automobiles in the fourth quarter of 2008 was reflected in the order intake for the company as a whole.