Home » Thanks to WYKO Acquisition, ERIKS Sales Shoot Up 74%
Thanks to WYKO Acquisition, ERIKS Sales Shoot Up 74%
January 8, 2008
The ERIKS group had sales of €949 million (US$1.4 billion) in 2007, up 74.6% from 2006, thanks to its acquisition of WYKO.
Profit was about €45 million, up 62%.
CEO Jan van der Zouw said: 2007 was another excellent year for the ERIKS group. At this moment the order intake is at a good level and we are not experiencing any negative effects of the declining industrial production in Western Europe and the USA. We are positive about ERIKS'prospects for 2008."
ERIKS bought UK-based WYKO Holdings Limited, a distributor of power transmission, sealing technology, fluid power and maintenance products, in October 2006. WYKO had close to €320 million (US$450 million) in annual sales at the time of its acquisition.