Teksid S.p.A Business report FY 2008
|Financial Overview||(in million euros)|
|FY2008||FY2007|| Rate of
-Teksid Aluminum S.r.l., which operates in the aluminum business, formed part of the Company for the entire year (included in September 2007), whereas 2007 still included two months of activity for the Magnesium business unit, which was sold in March 2007.
Excluding the impact of these transactions, the Company would have posted 3% revenue growth over the previous year, as well as improved trading profit.
Cast Iron Business unit
-In 2008, the Cast Iron business unit posted a 6.8% decline in volumes, while revenues rose 2.9% as higher selling prices compensated for increased raw materials prices. The decrease
in volumes was mainly due to lower sales levels in Europe (-7.7%), partially offset by increases in business in Brazil and the NAFTA region.
-In addition, the Company's Cast Iron business unit operates in China through Hua Dong Teksid Automotive Foundry Co. Ltd., a joint venture with the SAIC group, accounted for under the equity method. This company posted an increase in delivery volumes of 5.2% over the prior year.
|R&D Expenditure||(in million euros)|
-NDC systems integration in production cycle
-Material data base for Low Cycle Fatigue engine component design
-New concept for engine components
-Compacted Graphite Iron process/product development
|Capital investment||(in million euros)|