The IW 1000: The 2009 World's 1000 Largest Manufacturers: Kings Retain Thrones

Lower gas prices in the latter part of 2008 and tumbling auto sales couldn't keep the oil and motor vehicle sectors from dominating the top 20 positions on this year's IW 1000.

Oil producers Exxon Mobil Corp. and and U.K.-based Royal Dutch Shell PLC and BP PLC held on to the first three spots, respectively, all posting double-digit percentage revenue gains. Chinese oil and gas companies continue their IW 1000 ascent with China Petroleum & Chemical Corp. (No. 8) and PetroChina Co. Ltd. (No. 11) each gaining four spots. Japanese automaker Toyota Motor Corp. swapped with Chevron Corp., moving up one spot to No. 4. Toyota, which ended its 2008 financial year on March 31, 2008, posted a 4.5% profit gain on revenues of US$29.1 billion. But Toyota's higher ranking could be short-lived after revenue declined 22% in 2009, and the company posted its first-ever annual loss in its most recent fiscal year.

A machinist's strike in the fourth quarter dragged aerospace and defense manufacturer Boeing Co. down nine places to No. 54, one spot above France-based rival EADS NV. "We delivered double-digit margins from our defense business and solid results in production programs and services from our commercial airplanes business," said W. James McNerney, chairman, president and CEO of Boeing, in the company's annual report. "However, the impact of a two-month strike and delays on key development programs outweighed that performance in our year-end numbers." Meanwhile, EADS remains at the same IW 1000 spot it held last year after revenue rose 10.2% to $60.8 billion.

Companies involved in mining potash also achieved significant gains. Potash is a variety of mined and manufactured compounds used in fertilizers that contain potassium. The chemical is popular in crop production, including biofuels.

Potash Corp. of Saskatchewan Inc. jumped 219 spots to No. 412. The Canadian manufacturer's revenue grew 80.5% in 2008, partly attributed to high grain demand for biofuels and food, according to the company's annual report. Another major potash producer that posted significant gains is Israel Chemicals Ltd. The company, which touts itself as the sixth-largest potash supplier in the world and No. 2 in Europe, rose 209 spots on the IW 1000. The Tel-Aviv, Israel-based company's revenue hit US$6.9 billion, a 68.4% gain over the previous year. The company noted in its annual report that it broke several records during the first three quarters of 2008, but echoed the same lament of many manufacturers worldwide during the final three months.

"As the economic crisis spread in ever-broadening circles, we experienced a significant decline in demand and began to adjust to an industrywide downward pressure on commodity prices," wrote President and CEO Akiva Mozes in the company's annual report. "As a consequence, our financial results for the fourth quarter, though satisfactory, were far below the record levels achieved just months before."