(Ad-hoc) Dürr's incoming orders above average due to GM large contract

03/24/2003 - Dürr AG - WKN 556520 / ISIN DE0005565204

The Dürr Technology Group booked above-average incoming orders of almost 1 bn euros in the first months of fiscal 2003. The extraordinary figure is due to a large-scale order for the delivery of multiple Turnkey paint facilities in North America that General Motors Corporation (GM) placed with Dürr Industries Inc. of Plymouth, Michigan, a US subsidiary of Dürr's Paint Systems Business Unit.

This multiple paint shop order from General Motors represents the single largest order ever received by the Dürr Group. The contract includes paint facilities in Oshawa, Canada and Lordstown, Ohio, USA. The planning for an additional paint facility also continues, with the announcement of its location to be determined later this year.

This important large contract was won thanks to the competence and excellence of the Dürr-US companies and secures stable utilization of the paint systems capacities. The large contract should not obscure the fact that the capital spending climate is subdued. There is heavy pressure on margins, to which Dürr is responding with a Group-wide cost cutting program and greater focus on innovation management.

Dürr AG
The executive board

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