In the first nine months of 2004, Vaillant recorded a 6.1 per cent turnover increase to 1.3bn euros, in spite of the adverse economic conditions. Management forecasts turnover of 1.8bn euros for 2004. Vaillant recently became Italy's market leader for heating technology after acquiring a majority stake in Italian competitor Hermann. Four years ago, the group bought UK-based competitor Hepworth. Vaillant, which registers double-digit growth rates in eastern Europe, is now one of the two leading heating technology specialists in all major European countries, Scandinavia excluded.

Original article by Jurgen H. Wintermann

Abstracted from Die Welt