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MTU Friedrichshafen, a DaimlerChrysler company, continued its successful corporate development in the 2002 financial year. Together with its subsidiaries and associates, the company generated revenues of Euro 1,273m thus increasing the previous year's value (Euro 1,128m) by 12.8 percent. "We have again increased our revenues and succeeded in improving our position on the global market for the ninth consecutive business year", said Dr. Rolf A. Hanssen, CEO and President of MTU Friedrichshafen and head of the DaimlerChrysler Off-Highway business unit.
Thanks to the positive business development, MTU recruited 168 new employees last year and currently employs 6,688 people. This figure includes about 500 employees who joined MTU as a result of the acquisition of foreign subsidiaries of the partner company, Detroit Diesel Corporation. It also includes 300 apprentices who are currently undergoing training at MTU.
General economic conditions continued to worsen in 2002 in comparison to the previous year and also adversely affected the worldwide diesel engine markets. The Off-Highway-diesel engine market segment fell by 1.3 percent in 2002 in comparison with the previous year. The drop in revenues was particularly dramatic in the North American market with a reduction of 4.5 percent. The worldwide decline affected the markets for construction and industrial vehicles and energy systems in particular. By contrast, the markets for ships and military...