POINTERS
Decoma reports heavy losses in Europe
Canadian automotive supplier Decoma (Concord, Ontario / Canada; www.decoma.com), soon to be integrated into parent group Magna International (Aurora, Ontario / Canada; www.magnaint.com), reports ongoing losses at European subsidiaries Prometall, Decotrim and Belplas. In the third quarter of 2004, the three companies had an aggregate operating loss of USD 17m. This was expected to widen to USD 32-36m in the fourth quarter. The Belplas facility at Genk / Belgium, where launch issues related to various fascia programmes and high scrap rates negatively affected the facility´s performance, was especially hard hit.
10.02.2005 Plasteurope.com [11672]
Published on 10.02.2005