Linde's materials handling segment, comprising Linde, Still and OM Pimespo, has kept first quarter 2002 materials handling sales at EUR702 million, just down from the first quarter of 2001, which was EUR707 million.

Received orders fell 3.6 percent to EUR756 million, compared to EUR784 million in 2001, but that was better than the materials handling market generally, which Linde said had dropped 11 percent.

New products launched at CeMAT 2002 would improve sales, Linde said, but the company's operating result fell EUR36 million to EUR17 million due to costs associated with introducing new products, an unfavourable sales structure, competitive pricing pressure and a deliberate 10 percent production reduction. Orders on hand had improved, and production facilities had operated healthily.

For full-year 2002, cost-cutting measures would offset the reduced operating result, but "sales will not quite achieve the high level of the previous year", Linde said in an interim financial report.

Linde said it had increased market share for orders received in Europe and Germany and improved its position in Asia, due in part to an economic recovery in the region and Linde's cooperation with Komatsu Forklift Ltd.