UPDATE 1-Saurer 2003 orders down one pct, shares drop

Newswire

(Adds analyst comment, downgrade, shares) ZURICH, Jan 21 (Reuters) - Swiss textile machinery and car parts firm Saurer said on Wednesday 2003 orders fell one percent to 2.6 billion Swiss francs ($2.1 billion), knocking 536870913 its shares down more than four percent. Sales rose six percent to 2.64 billion Swiss francs. Analysts had on average forecast orders at 2.72 billion francs and sales of2.57 billion. Bank Sarasin cut its recommendation for shares in Saurer to "neutral" from ...

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