(…) The Fastening Systems business unit reported sales of €262.8 million (down by 28.9 percent) for the period. The weaker performance was primarily attributable to project delays in China where since July 2011 there has been a hold on shipments for ongoing projects. Revenue in Libya and Russia was also short of expectations again on account of project postponements. The Fastening Systems business unit scored a strategic success with its very first order to supply products for a high-speed railway line on ballasted track in Morocco. The North American customer base also branched out and in a number of Asian countries business expanded appreciably. (…)
via Vossloh AG : Vossloh’s order backlog at all-time high Launch pad for return to growth | 4-Traders.