5 February 1998: German engineering group Didier-Werke AG said it expected a 1997 loss at parent-company level, with profits hit by losses both at its US unit Narco and by the Asian financial crisis.
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5 February 1998: German engineering group Didier-Werke AG said it expected a 1997 loss at parent-company level, with profits hit by losses both at its US unit Narco and by the Asian financial crisis. Didier said that despite its 1997 performance, it would pay an unchanged dividend of two marks for 1997, guaranteed by Austrian majority shareholder Veitsch-Radex AG, a unit of RHI Group. The company did not say what results were expected for the Didier-Werke group as a whole, although it said they, too, had been hit by the negative factors affecting the company. It also said accountants were examining the necessity of write-downs in some areas. “The positive developments of the years 1995 and 1996 could not be continued in 1997,” Didier said in a statement. In addition to negative developments at Narco and problems emanating from Asia, the company said a fall in investment in the glass industry had also affected its 1997 performance.