Carpenedolo, Brescia-based Gkn Wheels Carpenedolo, Italian steel wheel producer subsidiary of British-based Gkn Land Systems, a diversified manufacturer and service supplier to the global agricultural, construction and mining industries, has announced its 2010 financial results.
The company said that in 2010 its sales revenue amounted to €43.82 million, increasing by 16.59 percent, while its net loss amounted to €4.412 million, decreasing by 44.73 percent, both compared to the previous year's figures.
According to the company's predictions, it is likely to witness a return to profit in 2011, as sales revenues in Q1 soared by 120 percent year on year. Nevertheless, Gkn Wheels Carpenedolo is expected to return to its 2008 turnover level (€94 million) only in 2014.
Gkn Wheels Carpenedolo produces 9"-30" gauge steel wheels for agricultural, industrial and heavy-duty vehicles and trailers.