Geneva  - Swiss industrial engineering and manufacturing company Sulzer reported Monday a 29.1-per-cent drop in its order intake for the first nine months of the year, when adjusted for currency fluctuations.

"The activity levels in most of Sulzer's key markets were clearly below the level of the previous year's period," the Zurich-based company said in a statement, adding, however, that the order intake level had started to show some stabilization in recent months.

Sulzer said it did not expect a "quick recovery," as the economic downturn would continue to affect its key markets. However, it was looking to emerging markets, which were estimated to remain comparatively stronger. (dpa)