31.08.2009

Faresin up 13%

Faresin the telehandler and building equipment company has reported 2008 revenues of €107 million, a 13 percent on 2007. Faresin Industries, which produces the company’s telehandlers, was responsible for more than half of the improvement, boosting its revenues by more than €6.5 million.

The results were recently presented to the ‘stakeholders’ in the Faresin group, the holding company which includes Faresin Building, Faresin Industries and Meccanica Breganzese.

The group’s gross operating profit was €8.7 million, while shareholders’ equity increased by more than 36 percent to €19.2 million.

The group says that it will continue its long-standing policy of reinvesting profits in the company’s business, focusing on expansion and strategic Research & Development for new products. The Group spent more than €8 million on R&D in 2008.