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 Spa, Faresin Industries Spa and Meccanica Breganzese Spa.

The group’s gross operating profit was €8.7 million, while shareholder’s 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.