There was a 13.2% increase in orders compared to the end of the previous business year.
The Miba sinter group accounted for the largest proportion of group sales, at 42.2%, followed by the Miba bearing group with 38.5%. Sinter group sales in the first quarter of 2010–2011 totalled €41.5 million, up by 57.1% from the first quarter of 2009–2010, while bearing group sales were €37.9 million during the reporting period, an increase of 7.6% or €2.7 million from the first quarter of the previous year.
Miba says that during this first quarter of 2010-2011 the company continued to focus its activities on managing working capital and strengthening of liquidity, as well as strategically-focused investment.
During this time the company also finalised the acquisition of subsidiary Teer Coatings Ltd, based in Droitwich, UK, and established the Miba Bearings Sales Corporation, in Ohio, USA. It also sold an interest in High Tech Coatings GmbH, Laakirchen, totalling 24.8% of the share capital.