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Voith announces results of past fiscal year, examines forecast for 2013

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The Voith Group has finished its 2012 fiscal year with company sales up 2% to US$7.57 billion.

Voith's fiscal year, which ended September 30, included a number of hydro-related milestones and news.

The company's North American hydro operations -- based in York, Pa. -- celebrated its 135th anniversary in September, and was also selected to provide two vertical Kaplan turbine units for Iowa's 36.4-MW Red Rock hydropower project.

Internationally, Voith is providing electromechanical work for India's 450-MW Baglihar 2 hydroelectric plant, as well as a $103 million deal for the modernization of Brazil's 1,396-MW Agua Vermhela complex.

Voith said its volume of major sales in the hydro power market have declined slightly this year, however, helping account for the group's overall 10% drop in orders received.

"The year 2011-2012 has presented Voith with massive challenges," said Dr. Hubert Lienhard, President and Chief Executive Officer of Voith's Corporate Management Board. " We have worked intensively on our profitability and our future growth, and laid crucial foundations to ensure that Voith can continue to grow profitably."

Lienhard said difficult economic conditions -- including the Euro debt crisis and an uncertain capital market environment --have tempered the company's expectations for growth next year.

"Dealing with the changes in some of our core markets will continue to be high onour agenda also in 2013, and we cannot see any dynamic growth in 2012-2013," Lienhard said. "But we expect altogether stable business developments for the Voith group."

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