Moeller Electric: A 10% drop is an optimistic estimate

The local Moeller Electric company, part of the U.S. Eaton corporation, with sales worth $15.4 billion (some €10.9 bln, at a $0.7€1 exchange rate) in 2008, posted a drop of some 10 percent in net sales in the first six months of this year and forecasts some RON 125 mln (€29.7 mln) in business this year. Furthermore, the company estimates that net profit will fall by over one tenth, Moeller Electric’s General Manager, Iordan Mincă, told Business Standard. “Our initial ...

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