In the division Transmission Systems, order intake and sales were 49% above last year's level at EUR 592m (adjusted for the acquisition of Fairfield and currency effects +3%). The decreasing demand for agricultural vehicles had influenced Graziano Trasmissioni's core business negatively in the first half-year.
As announced, this decreasing demand could be compensated in the second semester by new projects in other segments. Fairfield's business, consolidated as from February 2006, developed in the line with the expectations expressed after the acquisition.
The integration of the two companies is making good progress and orders for the first synergy projects have already been signed. The newly-expanded factory in Delhi (India) started operating in August and will make an important contribution to the growth in Asia. The expansion of production in Saurer's former textile plant in the Czech Republic is also making rapid progress thanks to the takeover of the well-trained staff.
The Saurer growth program continues in line with plan. In the nonwoven segment, Saurer was able to acquire projects for all important technologies (spunbond, carded, airlaid) and has positioned itself as a full-service provider. The newly developed mid-range ring spinning machine Zinser 360 was successfully introduced. In the components business, the integration of the acquired companies is making progress and various integration and rationalisation projects are being implemented.
Following the completion of the acquisition of Saurer by OC Oerlikon, Saurer's annual report and financial statement will be published concurrently with those of OC Oerlikon on March 27.
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