7/14/2009
Würth U.S. 2008 Sales Down 8.8%; South America Up
Würth Group sales by its U.S. entities outperformed the general economy, but were down 8.8% to Eur 680 million (US$950.2m) in 2008.
“The downturn in the American economy which began back in 2007 with the crisis on the real estate market has continued inexorably,” the Würth annual report stated. “What started in a corner of the United States with non-performing housing loans rocked financial markets around the world in 2008 and caused a serious decline in consumption, the most important growth driver in the U.S.”
Auto sales “plunged 18% in 2008 to the lowest level in over 15 years,” the report pointed out. Würth “could not entirely escape” the U.S. economic downturn.
Würth Industry of North America is comprised of 7 fastener and assembly component distribution companies with a total of 56 locations throughout the U.S., Canada and Mexico. WINA reports 893 employees and 11,000 active customers in the heavy manufacturing, truck, agricultural equipment, electronics, railcar, construction equipment and recreational vehicle industries.
In contrast, South American business development “was extremely positive in 2008,” the annual report stated. Sales have grown an average of 34% per year since 2003 indicating the South American market is “developing dynamically and sustainably.”
Würth Brazil 2008 sales totaled Eur 75 million (US$104.8m), up from Eur 68 million (US$95m) the year before. ©2009 GlobalFastenerNews.com
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• Würth Group Sets Sales Record in 2008 Despite Slowing Second Half Economy
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