Asian results balance Premo’s sum

A deep deceleration took place at the third quarter due to the accumulation of stock in the supply chain that the new legislation in Spain on photovoltaic solar energy has caused and, specially, by the strong recession in the motor sector that has affected mainly Malaga and Tangiers plants. The award goes to PREMO Wuxi plant; with a great turnover of 8.5 millions euros in 2008. The third part was sold to the China market and the Asian southeast, being the main profit contribution to the PREMO Group. PREMO expected to increase its presence in 2009 in Taiwan and Japan with high range products; therefore Asia will exceed the 50 percent of total group sales in 2009. In spite of the economic situation, Premo Wuxi had an annual growth rate of 15% last year. 2009 sales forecast are to sell 2 millions euros and a half in Taiwan in addition to its current sales. This progressive growth is due to its great management, recently adapted to the local management model. This innovative management model has had a big impact on the plant, improving its performance. It has even been recently awarded, with Bosch and Alps among others, for being one of the 10 companies with better management of Wuxi.