This news article was originally written in Spanish. It has been automatically translated for your convenience. Reasonable efforts have been made to provide an accurate translation, however, no automated translation is perfect nor is it intended to replace a human translator. The original article in Spanish can be viewed at Gildemeister capea la crisis con nuevos proyectos en 2009

Gildemeister recovered the crisis with new projects in 2009

08/05/2009

May 8, 2009

The German company Gildemeister has also suffered, during the first months of the year, the fall in the demand for machine tools as a result of the global recession. Both sales volume and the benefits of the German group have been affected during the first quarter of 2009. Sales fell to 327,7 million euros, compared to 392 million the previous year. However, the company is optimistic with their new products, cooperation with Mori Seiki, its presence in the most important fairs, its foray into solar technology and its global strategy.

However, for the company, this situation also has a positive side. In the first quarter, EBITDA reached 22.7 million euros (33.4 million the previous year) and the Group received an annual 6.5 million EUR profit to March 31, 2009 (year previous 11.2 million).

In the course of the financial year of 2009, even Gildemeister will have to take the losses. "We have responded in time to take measures of cost savings." During the crisis, however, opportunities have allowed them to benefit from some advantages, such as cooperation with the Japanese manufacturer of machine tool Mori Seiki. "Together we develop synergies and, in the interests of our clients, we concentrate resources with the aim of achieving significant advantages." We will benefit from our proven business model and clear corporate strategy. Our diversity of clients and industries, as well as our growing international presence, make us strong. In addition, with our solar technology, we have an additional key area. "For the financial year 2009 expect a decline in orders and a clear decline in the development of sales and profits," point from the company.

In the medium term, will deal with the Asian markets and of Eastern Europe with a direct sales strategy and partnerships to strengthen their competitive position. In addition, they will lead to stable market sectors such as aeronautics, medical technology and renewable energy.

Gildemeister expected to obtain new assessments of market thanks to its new product designs. The company has participated in the fair ITTA of Beijing in April with more than 138 sold machines and orders amounting to EUR 22.5 million. They will also be present at EMO Milan from 5 to 10 October, where Gildemeister will present 40 products, five of whom will be new features.