At Bauma, Liebherr reported that although turnover fell by 16.9% there was no change in the size of the workforce and investments reached EUR656 million. “After the severe collapse of the international economy in the 2008-2009 winter half-year period, economic activity gradually stabilised by midway through 2009, and in the last two quarters of the year the lowest point in the economic crisis had largely been overcome. In 2009 the world economy shrank by 2.1%. In the industrial countries the drop was 3.4%, and more severe in the Eurozone and Japan than in the USA. Developments in the threshold countries had a stabilising effect. According to provisional estimates, the Chinese economy grew by almost 9% and the Indian economy by approximately 7%. In Brazil, economic performance in 2009 almost equalled the previous year’s level, whereas in Russia the effects of the financial and economic crisis were more evident, with a drop of about 8% in gross national product. Overall economic performance rose slightly in the threshold countries. The drop of 12% in 2009 was the most severe downturn suffered by world trade since the end of WWII.“The Liebherr Group was obliged to accept a drop in turnover in the 2009 business year. Total sales revenue went down by EUR1,422 million or 16.9%, to EUR6,986 million. As in earlier economic downturn phases, the 2009 crisis year confirmed the stabilising effect of the group’s broad diversification in terms of both products and markets. Despite the drop in turnover, Liebherr succeeded in recording a higher annual result than in the previous year. In the earthmoving and mining division the group incurred a drop in turnover of EUR881.7 million or 32.6%, to EUR1,825.1 million.”Despite the difficult business situation, important and essential investment projects went ahead; they are aimed at production plant extension and the worldwide sales and service network. At EUR656 million, investments were EUR258.9 million or 28.3% below the previous year’s total. A development, assembly and logistic centre for mining excavators was built in France. In Russia, work went ahead on erecting a production plant in which Liebherr intends to build or assemble machinery such as earthmoving machines for the Russian market, and also structural steelwork. Work began in India on the construction of a production plant for drive technology components.