Oerlikon says signs of recovery are appearing
23/10/2009
The textile division of Swiss machinery manufacturer Oerlikon generated orders worth around EUR 600 million in the first three quarters of 2009, 28% less than during the same period last year.
Orders on hand amounted to almost EUR 360 million, 12% down on this time last year. Sales for the period were down 47% at EUR 471 million. In response, the company has taken cost-cutting measures in the course of this year, including cutting its number of production facilities from 35 to 25.
The company said that the sharp declines over the previous year reflect overall declines on the global textile market. However, it said signs of recovery were evident. For example, orders for its plant and machinery during the third quarter of this year increased by more than 50% compared to quarter two. The company said growth had been particularly strong in China and that India and Vietnam were also performing positively.
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