Tomkins says some markets have stabilised

ERJ staff report (DS)

London -- "Conditions in some of our end markets appear to have stabilised," said James Nicol, Chief Executive Officer of Tomkins PLC, which owns the Gates and Schrader businesses. He continued, "we expect the second half of 2009 to be better than the first half of the year.""

He continued, however, saying, "sales to the Industrial Original Equipment market remain weak, principally due to limited credit availability, destocking and low end-customer demand." Tomkins said, "he Automotive Aftermarket business continued to show its resilience, with good performance driven by stronger sales in Europe."

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Press release from Tomkins