Knorr-Bremse reports further growth
KNORR-BREMSE: Braking system and rolling stock component manufacturer Knorr-Bremse has reported sales of €3·71bn for 2010, up 34% on the previous year. Operational earnings were up 28% based on constant exchange rates.
Sales at the Rail Vehicle Systems division increased from €1·55bn to €2·02bn, primarily driven by a marked rise of more than 100% in Asia where the company has been expanding its presence since the late 1980s.
Sales at the Commercial Vehicle Systems road vehicle division showed signs of recovery, growing from €1·22bn in 2009 to €1·70bn last year, but in Europe and North America the sector remained well below its level before the financial downturn.
In 2011 Knorr-Bremse expects to see ‘continuing positive development’ in a ‘volatile’ environment.