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Schaeffler's industrial division may resume growth in 2014 -CEO
November 11, 2013 / 10:41 AM / 4 years ago

Schaeffler's industrial division may resume growth in 2014 -CEO

BERLIN, Nov 11 (Reuters) - German auto parts maker Schaeffler’s industrial division may return to growth next year, chief executive Klaus Rosenfeld said on Monday, citing improving economic conditions.

Third-quarter sales at the unit declined almost 10 percent to 758 million euros ($1.01 billion), the company said in its quarterly earnings statement.

Schaeffler’s gearing ratio may remain below 3 at the end of this year, the CEO said. ($1 = 0.7491 euros) (Reporting by Andreas Cremer)

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