Liebherr back on growth course in 2010 – strong sales in mining

first_imgIn its 2010 financial year, Liebherr’s turnover was up by 9.0 %, the workforce grew slightlyand EUR544.1 million was invested in facilities. The company reports that “in 2010 the international economy grew by approximately 5 % and largely overcame the consequences of the financial and economic crisis. This recovery, however, varied from one region of the world to another. Whereas there was particular growth in trade volume in threshold countries, the upward trend in industrial nations was less pronounced. World trade expanded exceptionally strongly in 2010, by 12 %. Worldwide demand for commodities rose and is still rising. This has opened up exceptional growth prospects for the global mining industry, with the result that demand for machinery and equipment for the extraction of raw materials increased strongly.” The Liebherr Group benefited from the worldwide business recovery in the 2010 business year and resumed its growth. Total turnover rose by  €626.0 millionor 9% to €7,587.0 million. This growth derived exclusively from the Group’s construction machinery area (including mining machines), in which it proved possible to increase sales revenues by  €655.3 million or 16.0% to  €4,744.2 million. Sales revenues from the earthmoving and mining division increased in a gratifying manner by  €602.6 million or 33.3%, to  €2,412.7 million.During the past business year, the Liebherr Group invested  €544.1 million in the construction and modernisation of its production locations and the enlargement of its worldwide sales and service network. This total was  €92.3 million or 14,5% lower than in the previous year. This included the construction and equipment of test rigs and other plant needed for the ongoing development of engine technology.A large-scale investment project was brought to a conclusion at the facility in Colmar, France, when midway through 2010 a new development, assembly and logistic system for mining excavators with service weights between 110 and 800 t was commissioned.The new production facility in Nizhny Novgorod, Russia, will commence operation in successive stages, starting in mid-2011. This extensive investment project is of particular importance for the accessing of strategically important markets. On a site occupying a total area of more than 120 hectares, construction machinery including earthmoving machines, will be produced. It is also planned for this factory to fabricate structural steelwork and built equipment for various other machines.The company stated it “has made a good start in the new 2011 business year. The upward trend has continued in almost all product areas, enabling turnover to be increased by approximately 14% in the first six months of the year. Once again, construction machinery grew more strongly than other product areas. For the 2011 business year as a whole, a gratifying increase in sales revenues, probably of more than 10%, can therefore be expected. This growth will be accompanied by further additions to the workforce and by higher investments. For 2011, the Liebherr Group expects to achieve a result comparable with the previous year.”last_img

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