Despite a slowdown in North American heavy truck sales, the Haldex Group sees its strong first quarter as a sign of higher sales and profits through the rest of the year.
The Swedish based company posted first quarter sales of approximately $191.5 million (1,701 MSEK), up 5% from first quarter 1999. Pre-tax earnings were $10.4 million (92 MSEK), up 29% from a year ago.
The Group's worldwide sales of heavy vehicle products was $118.7 million (1,054 MSEK), up 2% from first quarter 1999. After adjustment for divested units wihtin the Brake Systems division, the increase for continuing business was 5%.