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
This article was automatically imported from our old content management system. If you see any display errors, please let us know: firstname.lastname@example.org