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Industry: Email Alert RSS FeedMontupet cuts costs and debt.(company earnings)
Automotive News Europe, January, 2005
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Montupet SA was the top-performing supplier in the fourth quarter of 2004, with a 33 percent gain in shareholder value.
Investors hailed the 2004 first-half results of the French maker of aluminum components, which showed a rise in operating profit and a fall in net debt. Shareholder value for the year was up 4.4 percent.
The improved performance in the fourth quarter follows Montupet's restructuring of its plants in Mexico, Canada and the UK.
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The company's operating margin rose by 1.6 percentage points from a year earlier to 7.6 percent at the end of June. Its net debt ...
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