RERMAG

Haulotte Volume Plunges in Q4 and Full-Year 2008

French aerial work platform manufacturer Haulotte Group posted 2008 revenue of €450.8 million (about U.S. $571 million), a decline of 26.7 percent from 2007’s restated revenue of €614.8 million. Consolidated fourth-quarter revenue was €73.9 million (about U.S. $93.7 million), of which €9.5 million came from new subsidiary Bil-Jax Inc. The fourth-quarter decline was a precipitous 162.2 percent.

Haulotte blamed the “severe slowing down of the world economy after the summer, and the limitation of credit linked to the financial crisis” for the decline.

Haulotte said it “took the necessary measures to adjust its production and adapt its costs of structure to protect its cash flow future.”

Haulotte is based in L`Horme, France.

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