Lowara, sales and orders strong.

16/01/2007

Orders and sales grow, driven by increased demand in domestic and foreign markets: for Lowara, the first two quarters closed with these encouraging signs, confirming the company’s competitiveness in the major international markets: €124 million in sales (+12.7% increase over 2005), 11.3% increase in orders. «In the first two quarters – says president Paolo Marinovich – we saw a slight recovery in the Italian market and more sustained growth in Western Europe, especially in Germany.

The most encouraging signs come from the rich markets of the Middle East and from Eastern Europe, particularly Russia and Ukraine. The growth of the major markets is accompanied by the success of last-generation products, which have exceeded sales expectations. Good performances have also been achieved in the water supply to buildings sector, where we are responding to the growing demand for energy savings by offering high-efficiency pumps and our Hydrovar control systems».

As for the Italian market, the reorganization of the distribution network, aided by the implementation of a toll-free number for assistance and information, has proved particularly effective.

Lowara expects to close 2006 with sales of just over €250 million (versus €223 million at the end of 2005), despite growing competition, price increases in some raw materials and the delicate international situation: a slowdown in orders from the Mediterranean area is expected, though no significant consequences should arise in the Gulf area, where Lowara is engaged in a number of important projects. The forecast for Europe, on the other hand, is good.

ITT-Lowara (www.lowara.com), headquarters of "Residential and Commercial Water - EMEA" part of the ITT Corporation and located in Montecchio Maggiore, Vicenza - Italy, is a leader in the manufacture of hydraulic pumps and water handling and control systems. It has 1.348 employees in Europe, 771 operating in Italy. In 2007 its consolidated sales totalled about 284 million euro, or over 390 million dollars.
ITT Corporation (www.itt.com) is a diversified high-technology engineering and manufacturing company dedicated to creating more livable environments, enabling communications and providing protection and safety. The company plays an important role in vital markets including water and fluids management, global defense and security, and motion and flow control. ITT employs approximately 40,000 people serving customers in more than 50 countries. Headquartered in White Plains, N.Y., the company generated $9 billion in 2007 sales.