Linde has launched a program to optimise its multibrand strategy in its materials handling business.

The "TRIM.100" program - Total Reorganisation of our International Multibrand Strategy - aims to save EUR100 million (USD100.045 million) in 2003 and 2004 through the reorganisation of the sales, development, production and procurement departments.

Linde will shed about 500 materials handling jobs and more Linde-produced components will be used in production. The process will also involve Komatsu Forklift Ltd, which has a cooperation agreement with Linde.

In its most recent business statement, covering January to September 2002, Linde said Germany was affected by a slump in corporate investment, and the USA did not "send any positive signals".

Materials handling demand was expected to stabilise in the fourth quarter but sales and earnings would be lower than in 2001, the report said. While 2002 forklift orders showed a drop of six percent at the end of June, the decline had reduced to about two percent at the end of September.

Asian markets continued to grow, and the downturn in Europe and the USA had eased, but competition was intense, the report said. The new 39X forklift series, unveiled at CeMAT in April, was launched successfully in the third quarter.

Linde's materials handling segment maintained its position in Europe, and increased market share in the USA and Asia. Sales for January to September came to EUR2.149 billion (USD2.15 billion) overall, 1.5 percent down on the same period in 2001. Orders received decreased 2.6 percent to EUR2.292 billion (USD2.293 billion). The operating result of EUR94 million (USD94 million) was EUR56 million (USD56 million) below last year's figure.