Resulting from the slowdown in the automobile sector Grammer AG (PO Box 1454, D-92204 Amberg), a leading manufacturer of seating systems for vehicles and office equipment expects 1993 group turnover to decline from the DM 356m level achieved in the previous year. Turnover of the AG is expected to decline by about 10% from the DM 151m achieved during the previous year, and the company to show a loss. In addition to the operating losses, the results will be impacted negatively by write offs for the French subsidiary Sable SA, which is currently bankrupt, and being disposed of. Grammer Formteile GmbH (D-92245 Kümmersbruck), a new subsidiary, has been set up for the speciality foam parts business. Operations and sales of ABS Aircraft AG (CH-Goldach) have been transferred to the new subsidiary, and operations in Switzerland will be discontinued. Production and sales of speciality foam parts will in future be concentrated at the Kümmersbruck site. Grammer anticipates approx. DM 10m turnover in moulded foam parts.

READER SERVICE: Company financial information for 1992 (public domain) for 1992 Grammer AG (in German): PIE-No. 34936.