The 2020 Mid-Year Economic Update_long

ERIKS Sales for First Half of 2009 Down Slightly

Global recession slowed production across all segments for the Dutch distributor.
Dutch distributor ERIKS reported sales for the first half of 2009 of €518.1 million (US$737.5 million), down 0.1% from the same period last year. Profit  declined 53% to €13.2 million (US$18.8 million).
”In the second quarter, the level of industrial activity decreased further in all market areas important for ERIKS. We expect the impact of the global recession to be greater than previously anticipated,” CEO Jan van der Zouw said.
As a result, operations have been adapted to lower levels of activity, and headcount has been reduced by more than 450.
On August 6, ERIKS was acquired by Dutch holding company SHV. As a result, ERIKS will be delisted shortly, van der Zouw said.
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