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Profits fall at Zellweger Luwa

Production at Zellweger Luwa's Uster plant Keystone

Zellweger Luwa's net profit fell to SFr28.6 million ($17 million) from SFr55.6 million in the previous year.

This content was published on February 20, 2002 - 10:31

The Swiss manufacturing group said in a statement released on Wednesday that it blamed the weak business environment for the near-halving in its profits.

Total sales for last year fell to SFr924.5 million from SFr1.089 billion in 2000.

The canton Zurich-based company makes quality monitoring systems for the textile industry, as well as gas detection and climate control systems.

The weakness in the semi-conductor industry cut orders in its gas detection division, while one-off costs weighed on results at its Luwa air and climate unit. A slow year for the textile industry reduced orders in that area as well.

swissinfo with agencies

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