UNTERGRUPPENBACH, Germany - The financially battered Getrag Group plans to turn a profit next year, the company says.
"In 2010, we want to be profitable operationally and overall," said COO Bernd Eckl in an interview with Automobilwoche, a sister publication of Automotive News
"In 2011, we expect moderate growth in revenues."
For 2009, the family-owned transmission maker, based in Untergruppenbach near Heilbronn, Germany, is projecting a revenue decline of 20 percent, to 2 billion euros ($2.86 billion), and an operating loss.
"Special charges, such as restructuring costs and write-offs, are added to that," Eckl said.
But Getrag has consolidated relatively quickly, he said. In late April, the company concluded clear mid- and long-term financial planning with its banks.
Getrag recently ran into severe turbulence from the sales crisis and the collapse of major contracts on short notice. In those cases, its clients included Chrysler and some other automakers. Getrag was already in the red in 2008.