Leoni sets the stage for profitable growth

During the 2009 financial year, Leoni fully adjusted its cost structures and staff capacity to the weaker macroeconomic situation and set the stage for a return to earnings-oriented growth. The leading provider of cables and cable systems to the automotive sector and other industries generated consolidated sales of EUR 2.160 billion. The year-on-year decline (2008: EUR 2.912 billion) comes to about one quarter, although there was a steady rise in the course of the year. Earnings before interest and taxes (EBIT) amounted to a loss of EUR 116.3 million (2008: profit of EUR 55.7 million); on an adjusted basis* there was a loss of EUR 35.6 million (2008: profit of EUR 79.3 million). On the bottom line Leoni recorded a net loss of EUR 138.1 million (2008: net income of EUR 5.2 million). The Company intends not to pay out any dividend (previous year: EUR 0.20).
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AMSC and LS Cable Expand Superconductor Power Cable Strategic Alliance

Thursday, Mar 25, 2010

American Superconductor Corporation (NASDAQ: AMSC), a global power technologies company, and LS Cable Ltd. (LS Cable), the third largest power cable manufacturer in the world, today announced that they have expanded their superconductor power cable strategic business alliance. Under the new agreement, LS Cable and AMSC will work collaboratively to deploy more than 50 kilometers (km) (31 miles) of superconductor power cables in commercial power grids over the next five years. The original alliance, established in September 2009, called for the deployment of a minimum of 10 km (6.2 miles) of superconductor power cables during that same period.

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