Gavazzi boosts sales and earnings

The electronics group, Carlo Gavazzi, has increased its sales and profits over the year from March 1999 to March 2000, despite a series of disposals.

Sales increased 17 per cent to SFr449.2 million, while operational profits doubled to SFr27.1 million. Thanks to this improved performance net profit rose SFr900,000 to SFr10.6 million.

As a result, the group is proposing increasing its dividend from SFr30 to SFr40. In addition, shareholders at the electronics group based in canton Zug will be asked to vote on a ten-for-one share split at their next annual general meeting.

The Gavazzi Group has been undergoing a thorough restructuring. It announced earlier in the year that it was selling its participation in the operating companies belonging to the Cefra Group, the group has now divested the drive-systems activity, part of the Automation Components Business Unit.

The operation, located in Gemmrigheim, Germany, was sold to the Italian group, SIEI.

Carlo Gavazzi is an international group with activities in the design and marketing of electronic control components for industrial automation, in electronic packaging and industrial PCs, as well as in engineering and contracting.

swissinfo with agencies