Heidelberg and manroland sales under pressure

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According to a company press release on 9 August, in its first quarter of the fiscal year 02-03 (April 1 to June 30), Heidelberger Druckmaschinen AG (Heidelberg) failed to match its sales figures of the previous year. Sales by the Heidelberg Group in the first quarter were around Euro 930 million (previous year: around Euro 1.1 billion). Orders during the same period achieved Euro 1.1 billion (previous year: Euro 1.3 billion). "We have now passed the bottom when it comes to orders and were able to improve slightly on the previous two quarters", explained Bernhard Schreier, CEO of Heidelberg. To achieve the year-end targets a pick-up in the second half of the year is still the prerequisite according to the Management Board. ...cont´d

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