Rockwell sees 20 pct '07 sales growth in China
Fri Aug 24, 2007 1:55AM EDT
BEIJING, Aug 24 (Reuters) - Manufacturer Rockwell Automation Inc. (ROK.N: Quote, Profile, Research), expects 20 percent revenue growth in China this year and in 2008, boosted by infrastructure projects and fast growing consumer industries, it said on Friday.
"We are on target for probably a 20 percent year-on-year growth rate at the end of this year and through 2008," Bruce Quinn, vice president and head of China operations for Rockwell, told Reuters in a telephone interview.
"Rockwell is doing very well here in China, we are happy."
That growth would double the 10 percent revenue growth that the company expects globally this year, and follows the double-digit growth it has posted in China over the past four years.
Rockwell's businesses on the mainland run from its traditional power generation, steel and infrastructure-related projects, to fast-growing consumer industries such as automobiles, pharmaceuticals and healthcare, said Quinn.
Rockwell's main rivals are Mitsubishi Electric Corp. (6503.T: Quote, Profile, Research) and Siemens AG (SIEGn.DE: Quote, Profile, Research).
Rockwell's profit rose 10 percent to $164.2 million in the most recent quarter, helped by strong foreign demand for its industrial control systems. (US$=7.59 yuan)
Market Data 
Markets 
