Dutch holding company the ERIKS group reported sales of €1.132 billion (US$1.48 billion at the current exchange rate), an increase of 19.3% over sales for 2007. The total sales meets the expectations announced by the group in November.
Organic growth contributed €42 million (US$54.9 million) to growth in 2008; acquisitions in 2007 and 2008 added €208 million (US$272 million).
Industrial activity further decreased in the fourth quarter of 2008, with many customers reducing their production capacity. This resulted in organic growth of -1.4% for the fourth quarter of 2008.
Sales in the ‘semicon,’ automotive, steel, and suppliers to construction industry were negatively impacted by the economic crisis. However, sales …
ERIKS Group Sales Up 19.3% For 2008
Dutch holding company the ERIKS group reported sales of €1.132 billion (US$1.48 billion at the current exchange rate), an increase of 19.3% over sales for 2007. The total sales meets the expectations announced by the group in November.
Organic growth contributed €42 million (US$54.9 million) to growth in 2008; acquisitions in 2007 and 2008 added €208 million (US$272 million).
Industrial activity further decreased in the fourth quarter of 2008, with many customers reducing their production capacity. This resulted in organic growth of -1.4% for the fourth quarter of 2008.
Sales in the ‘semicon,’ automotive, steel, and suppliers to construction industry were negatively impacted by the economic crisis. However, sales …
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