Document qkw79NEbLMwGMm7ZoEQkE0Qnq

Engineer ng Divivon h>r the pri'iluc.ion ,v hvJraulic component*. `I ho nwv op-.T.iio' -if' plar.t* n the 1. ntted Sur.es. 9 in Canada and ** :n rii.icn countriov hue, nut i ,'tContinued In Crow Huko'hoe lni>.,':i..ii.'n.il. S. \ . .-.Inch w.;s O't.ihlishod in IV59 .b.i whollyounod Swi** ?i. >* Ji.iia. o.'i ii. n.r.o- m:irtif.icinrir.u. .iecn*ing and tracing activ itic* :n Euivv .. id I'iiior oversea* areas It has grown to include seven i'pc:\.i:ng c. impair ** with m.L* saps Jieiio' ..ml now employs more than IJoti people 'IT.. p:oct;ot-in.iii.iiaoi..iod .iik sold in !l>ft| were ncustrtal and a r'-orne h'dr.n: ics .me! aju'ir olive brake I mr.g \ leciitv tor .he prodaetion of automotive lire maids was established in England a:ul will h. in operation in the first hall of 1962. h i* known as Bridgwater Machine C'ompunv Limited and is expected to employ approxi mate!) I DU people initially. kerohvdroul GmbH, the West German airborne hxdraulic subsidiary ol Brnkeshoe International, will move to a larger plar.t in Wiesbaden in March of 1962. The hint has received important orders from the West German. Italian. Belgian anc Dutch air forces as the sole supplier of hy draulic pumps for the extensive FID4G lighter plane programs of those NATO countries. Substantial progress was made in both manufacturing and marketing activities :n Europe during the vear. The rate of incoming orders increased rapidly and the backlog at >ear-end was substantial. It is expected that Brakeshoe International will have satisfactorx operations in 1962. Brake Shoe de Mexico. S. A., a brake lining manufacturing subsidiary, had satistactorv operations in 1961. Affiliated Companies in Three Countries L.lovds-Brake Shoe Ltd., the English foundrv affiliate of American Brake Shoe, continued profitable operation in 1961. In addition to having an equity in the Llovds operation. Brake Shoe receives royalties and technical assistance fees on Lloyds' sales of heat resistant castings and precision castings, mostly tire molds. Ar.isco Mexicana. S. A., operates a foundry near Mexico City which produces manganese and carbon steel castings for the local market. Brake Shoe acquired control in this firm in early 1961. The outlook for this com pany is good and sufficient volume to permit profitable operations is ex pected in 1962. Developments in the political and economic situation in Brazil are dis turbing and it is not possible to predict how they will affect Sifco do Brasil, S. A., the company's Brazilian ferging affiliate. The outlook is dependent upon the trend of local conditions. Foundry Production Transferred for Increased Efficiency In a move to improve utilization of facilities, the castings production of a foundry in Chicago was transferred to other plants and the foundry was closed. The manufacture and sales of ABK metal castings, which are used in highly abrasive applications, were moved to the Amsco Division. This enabled the company to give the product nation-wide sales coverage and multi-location manufacture. As a result, sales of the product line, though small, showed marked improvement. Return on .-I i erage Slue kholders' Equit r JE= (CV ;i s; ss s' a a :: s: B Special Item 25 4 SCI 01838