ElringKlinger Acquires Large Order from US Truck and Engine Manufacturer
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Dettingen/Erms, August 23, 2006 +++ Automotive supplier ElringKlinger will equip one of the largest US truck and engine manufacturers with cam cover modules and a comprehensive gasket package as a series supplier.
ElringKlinger will manufacture cylinder-head gaskets, as well as the oil pan gasket and gaskets for the exhaust tract, for a newly developed V6 diesel engine for the North American market.
Deliveries will start at the end of 2007. ElringKlinger projects annual sales volumes of US-$ 4 to 5 million from 2008.
In view of the consistently high price of fuel and an increasing number of available models, expectations are for a substantial increase in diesel vehicles in the USA, which is currently at just slightly over 3% of new registrations for passenger cars and light trucks.
Dr. Stefan Wolf, Chairman of the Board of ElringKlinger group explains, "We are very pleased to acquire an important new customer in North America through this order. At the same time, we have effectively expanded our technological competence to cover new applications, such as the exhaust tract. Stricter exhaust emission regulations and the increasing complexity of exhaust aftertreatment systems result in an increasing demand for our products."
ElringKlinger attains more than half of its worldwide sales with diesel engine-related products. In 2005, the company achieved sales revenues of EUR 474.6 million and consolidated net income after minority interests of EUR 42.2 million with approximately 3,100 employees. In 2006, ElringKlinger projects sales revenues to grow by 5% to 7% and consolidated net income is expected to grow by 10% to 12%. In the event that the favorable economic climate and industry environment continues, ElringKlinger expects to reach the upper end of the range forecast for 2006.
end of announcement euro adhoc 23.08.2006 16:45:00
Further inquiry note:
Stephan Haas
Investor Relations Manager
Telefon: +49(0)7123 724-137
E-Mail: stephan.haas@elringklinger.de
Branche: Automotive Equipment
ISIN: DE0007856023
WKN: 785602
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