SCHATTDORF, Switzerland (March 30, 2010)—Daetwyler Group reported a 48-percent decline in net earnings and 14-percent falloff in net sales for 2009.
The firm said its net profits slipped to $53.7 million and revenue fell to $1.04 billion.
Datewyler's Rubber Division posted a 53.2-percent falloff in operating profits and 19.5-percent decrease in sales.
Last year the company reduced the number of employees, encouraged staff to take voluntary time off and installed a short-time working schedule at its Schattdorf plant for the first nine months of the year. The company also closed a U.S. factory and began operations at a new facility in Mexico in 2009.