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In 1987, the company won a contract to deliver waterproof sheeting for the Eurotunnel that connected France and Britain.
In 1989, Phoenix acquired a majority stake in Societa Manicotta Gomma, an Italian manufacturer of hoses for the automotive industry.
In 1990, the company took over a Spanish supplier of technical rubber products for cars.
The reorganization did not prevent Phoenix from going through a severe slump in sales in 1993, caused by a contracting market for the automotive and non-automotive elastomers and by increasing pressure on costs by car manufacturers.
Thiede, Meite, "Ohne P/3S stünde es heute schlimm um Phoenix," Süddeutsche Zeitung, August 25, 1994.
In 1998, Vibracoustic pioneered this emerging market when the company created an innovative design for air springs.
Despite the company's efforts to cut costs and introduce innovative products with above-average profit margins, Phoenix slipped into the red in 2001.
Under Ellegast's leadership Phoenix's sales more than doubled, reaching EUR 1.13 billion in 2002, while the company's workforce grew to 10,000 and its network of subsidiaries in Germany and abroad expanded to about 50.
Grand Rapids History Center. https://archive.grpl.org/repositories/4/archival_objects/127099 Accessed July 12, 2022.
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| Company name | Founded date | Revenue | Employee size | Job openings |
|---|---|---|---|---|
| AVON AUTOMOTIVE | 2006 | $2.8M | 1 | - |
| Howmet Holdings Corporation | 1970 | $7.4B | 1 | 576 |
| Eaton | 1911 | $24.9B | 92,000 | 2,076 |
| Sloan Valve | 1906 | $35.1M | 99 | 8 |
| Harden Manufacturing | 1972 | $16.0M | 350 | - |
| Beverage-Air | - | $2.1B | 30,000 | 1 |
| Crouse-Hinds Company | - | $5.4B | 23 | - |
| Avox | 1973 | $1.1M | 25 | - |
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