(adds CEO comments, reaction, share price) LONDON, July 31 (Reuters) - British engineer Tomkins has taken a $175.1 million impairment charge related to its exposure to weak U.S construction and automotive markets, resulting in a 79 percent fall in first-half pretax profit. Chief Executive James Nicol said its Stackpole power transmission business in the United States had been hit by customers deserting the light truck and SUV (sports utility vehicle) markets. "It's a one-time shot," he ...
Premium Content (PAID Subscription Required)
"UPDATE 1-Tomkins H1 profit hit by US impairment charge" is part of the paid WardsAuto Premium content. You must log in with Premium credentials in order to access this article. Premium paid subscribers also gain access to:
Hundreds of downloadable data tables including:
• Global sales and production data by country
• U.S. model-line inventory data
• Engine and equipment installation rates
• WardsAuto's North America Plant by Platform forecast
• Product Cycle chart
• Interrelationships among major OEMs
• Medium- and heavy-duty truck volumes
• Historical data and much more!
Current subscribers, please login or CLICK for support information.