Dutch holding company the ERIKS group reported sales of €1.132 billion (US$1.48 billion at the current exchange rate), an increase of 19.3% over sales for 2007. The total sales meets the expectations announced by the group in November.
Organic growth contributed €42 million (US$54.9 million) to growth in 2008; acquisitions in 2007 and 2008 added €208 million (US$272 million).
Industrial activity further decreased in the fourth quarter of 2008, with many customers reducing their production capacity. This resulted in organic growth of -1.4% for the fourth quarter of 2008.
Sales in the ‘semicon,' automotive, steel, and suppliers to construction industry were negatively impacted by the economic crisis. However, sales activity in the market sectors oil and gas, energy, food and maritime remains high.