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

June 13, 2009
Even with the worldwide economy tanking toward the end of last year, consumers bought enough cars and gas for their tanks to keep the oil and auto industries at the top of the IW 1000.

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.

Search The Database
Search and view the entire fourteenth annual IW 1000 list of the world's largest publicly held manufacturing firms.View the entire list alphabetically or sort the list by several categories including industry, country, ranking, and financial performance measures.

Methodology for Ranking the 2009 IW 1000
What goes into the 14th annual IW 1000.Makers of popular electronic gadgets fared well in 2008, with Nintendo Co. Ltd. and Apple Inc. moving up. The Japanese video-game console and handheld device manufacturer leapfrogged 194 spots to No. 224 on strong sales of its Wii video-game console and the Nintendo DS handheld gaming system. Nintendo's revenue rose 73% to US$18.5 billion, and profit increased nearly 50% over the previous year to US$1.9 billion. Apple reported record Macintosh computer sales in the fourth quarter, and the company sold 6.9 million iPhones during the final three months. Apple moved up 38 spots to No. 116.

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."

Revenue Leaders by Nation
Country/Province Number of Companies Revenue Total (Millions) Average Company Revenue Growth (%)*
United States 290 $5,386,377 10.50
Japan 233 $3,624,074 6.74
Germany 40 $1,269,963 11.97
France 48 $1,103,959 4.23
United Kingdom 36 $882,521 17.30
China 36 $606,892 19.74
Netherlands 13 $599,939 7.97
South Korea 37 $574,252 27.46
Switzerland 21 $364,031 2.90
Italy 15 $356,603 5.75
Russia 8 $338,870 32.37
Canada 27 $335,500 24.20
Taiwan 29 $328,564 5.47
India 12 $206,903 48.20
Finland 16 $189,505 0.56
Brazil 10 $184,523 23.04
Sweden 14 $161,619 6.29
Spain 6 $149,468 7.73
Luxembourg 3 $145,569 14.33
Australia 12 $143,580 38.52
*Manufacturers that did not appear on the 2008 IW 1000 list were not included in revenue growth averages.
Scaling the 1000
Bolstered by its January 2007 purchase of Corus Group PLC, Indian steel maker Tata Steel Ltd. rose 384 spots on the IW 1000, the largest gain by any manufacturer appearing on this year's list. The company's revenue grew during its most recent fiscal year, which ended on March 31, 2008, more than 400% to US$27.2 billion. Also showing significant growth were Canadian fertilizer manufacturers Agrium Inc. and Potash Corp. of Saskatchewan Inc. U.S. steel producer Steel Dynamics Inc. jumped 246 spots to No. 465 after a strong first nine months in 2008. The company posted a loss in the fourth quarter when steel shipments fell 34% from the third quarter.
2008 Rank 2009 Rank Company Country Rank Change
524 140 Tata Steel Ltd. India +384
854 477 Jiangxi Copper Co. Ltd. China +377
711 465 Steel Dynamics Inc. United States +246
419 175 Wesfarmers Ltd. Australia +244
956 717 Hosiden Corp. Japan +239
628 392 Agrium Inc. Canada +236
805 570 Inner Mongolian Baotou Steel Union Co. Ltd. China +235
770 544 AbitibiBowater Inc. Canada +226
974 748 Beiqi Foton Motor Co. Ltd. China +226
631 412 Potash Corp. of Saskatchewan Inc. Canada +219
Companies Falling Fast
Quebecor Inc.'s freefall on the IW 1000 might be a little deceiving. In 2008 the Montreal-based media company divested printing company Quebecor World, which also appears on the IW 1000 list and dropped significantly in 2008 after filing for bankruptcy. With Quebecor Inc.'s former subsidiary no longer contributing to sales, revenue fell 60% from the previous year to US$3 billion. Not including the loss of Quebecor, adjusted revenue actually rose nearly 11%, the company said in its year-end report. Meanwhile, Quebecor World expects to emerge from Chapter 11 bankruptcy this summer and as of early May was reviewing a buyout proposal from fellow printing company R.R. Donnelly & Sons Co. The year also was rough for Federal Way, Wash.-based paper and building products company Weyerhaeuser Co., which fell 241 spots as the slow housing market contributed to a 51% revenue drop.
2008 Rank 2009 Rank Company Country Rank Change
374 949 Quebecor Inc. Canada -575
567 914 San Miguel Corp.* Philippines -347
639 944 Invensys PLC United Kingdom -305
325 594 Infineon Technologies AG Germany -269
385 648 Hynix Semiconductor Inc. South Korea -263
235 479 Cadbury PLC United Kingdom -244
227 468 Weyerhaeuser Co. United States -241
459 685 Tate & Lyle PLC United Kingdom -226
591 798 Quebecor World Inc. Canada -207
511 715 M-Real Corp. Finland -204
*Most recent fiscal year ended Dec. 31, 2007
About the Author

Jonathan Katz | Former Managing Editor

Former Managing Editor Jon Katz covered leadership and strategy, tackling subjects such as lean manufacturing leadership, strategy development and deployment, corporate culture, corporate social responsibility, and growth strategies. As well, he provided news and analysis of successful companies in the chemical and energy industries, including oil and gas, renewable and alternative.

Jon worked as an intern for IndustryWeek before serving as a reporter for The Morning Journal and then as an associate editor for Penton Media’s Supply Chain Technology News.

Jon received his bachelor’s degree in Journalism from Kent State University and is a die-hard Cleveland sports fan.

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