Winterthur, Switzerland -- Automotive acoustics supplier Rieter Group has reported a 19-percent increase in sales for the second half of 2009 to CHF 774 million ($737 million) in its Automotive Systems business, despite seasonally lower demand, a 29 Jan company statement said.
The increase in orders, the statement said, has been largely due to vehicle manufacturers being able to reduce excess inventories in the first six months of 2009 and gradually increase output again in the summer months, thanks to government stimulus programmes to support economic activity.
Rieter's overall sales in 2009 in Automotive Systems were down 30 percent to CHF 1 424.3 million, compared to the previous year.
Between 2007 and the business year 2009, Rieter experienced a 50 percent drop in sales to CHF 1 973.8 million due of the global economic crisis. In the second half of 2009, the company has recorded an overall increase of 30 percent in orders and 17 percent in sales to CHF 1056 million, compared to the first half of 2009, the statement said.
Rieter's Automotive Systems division uses polyurethane foam in many parts for sound and vibration damping. (RD)