DETTINGEN/ERMS, Germany (May 13, 2010)—Original equipment supplier ElringKlinger Group has reported sales of $233.3 million in the first quarter of 2010, up 40.9 percent from a year earlier.
The company benefited from the global recovery of automobile markets as well as its strong positioning in Asia and new product ramp-ups, a 10 May company statement said.
Profiting from cost streamlining and improved capacity utilization in production, ElringKlinger's said its first-quarter operating earnings rose sixfold to $29.4 million. The company's net income, after minority interest, climbed to $17.1 million.