GRUPO KUO, S.A.B. de C.V. Business report FY2009
|(in million USD)|
|FY2009||FY2008||Rate of Change
-This reflects lower sales in the Transmissions SBU caused by the fall in demand for heavy and medium vehicle transmissions among the Company's leading customers due to the economic recession.
-Declines were partially offset by good performance and excellent acceptance of the TR6060 transmission for GM and Chrysler, in addition to record order levels from AM General.
-At the CIE-Desc SBU, there were lower direct and indirect sales (through so-called Tier 1 clients) to VW, GM and Chrysler mostly.
Divestitures-The Company announced that it has sold 100% of the capital stock of CIE Celaya, S.A.P.I de C.V. to CIE Automotive for approx. 15 million USD. (From a press release on Mar. 31, 2009)
-The Company announced that it has sold 100% of the capital stock of Pintura, Estampado y Montaje, S.A.P.I. de C. V. (Pemsa Celaya) to CIE Automotive for 30 million USD. (From a press release on May 25, 2009)
|(in thousands of Mexican pesos)|