Dura Business Report FY ended Dec. 2007
|(in million euros)||FY2007||FY2006|| Rate of
- Revenues in Europe accounted for the majority of the increase in sales, which were partially offset by decreased sales in North America.
- The primary driver of the increase of its 2007 sales was the favorable foreign exchange impact of 97 million USD due to the strengthening of the Euro as compared to the U.S. dollar.
- In addition, increased sales resulted from certain price increases, favorable product mix, and additional volume related to new product launches and the ramp-up of the existing programs.
- These increases were partially offset by the impacts of plants closures and decreases in its North American vehicle production from three of its larger customers (GM, Ford, and Chrysler).
- The largest decrease in Big 3 vehicle production came in pickups and SUVs, in light of record high gasoline prices in the United States during this period. The net new business, in North America, declined significantly in 2007 and 2006, primarily as a result of this production volume decline and Lear insourcing the seat adjusters on the GMT 800/GMT 900 program.
-The Company announced that it has entered into a technical alliance with Aditya Auto Products and Engineering Pvt. Ltd., based in Bangalore, India, to bring new automotive technologies to the growing domestic Indian and Asian markets. The Company will supply technology to Aditya for the manufacture of products such as pedals, parking brakes, shifters and spare tire carriers. Aditya will produce the parts and provide local support to automotive OEMs in the region. The Company and Aditya anticipate that the alliance will commence manufacturing of the Company components in India by the first quarter of 2008. The establishment of the alliance in Indian also provides access to neighboring Asian markets. (From a press release on Apr. 23, 2007)
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