The rail division, which accounted for 51% of sales, performed particularly well in the Americas with a 20% increase in sales reflecting an improved market for freight wagons and locomotives. Rail division sales grew by 3% in Europe and by 2% in Asia and Australia.
In October, Knorr-Bremse receive approval for its KAB60 control valve, which is designed specifically for the Russian railfreight market. The company also expanded its braking, door systems and air-conditioning facilities in China.
Knorr-Bremse is forecasting moderate growth and slightly-improved earnings this year, with further moderate recovery in North American railfreight and growth in India.