Engineering group Tomkins, which developed from a Walsall bucklemakers company, said its outlook for this year remained the same as it forecast in 2007.
But it cautioned that the North American automotive and US housing markets had weakened further.
Tomkins insisted its performance in the 2008 financial year had been resilient and the majority of its end markets remained reasonably robust.
"Our internal action plans are progressing well and accordingly the group's outlook remains in line," it said in a trading statement.
It said North American automotive production was now expected to reach 14.1 million units in 2008 compared to an originally hoped for 14.4 million.
The US residential market continued to soften and US housing starts were now set to hit about 900,000 units this year compared to the one million originally expected.
Its reporting currency was changed from sterling to the US dollar from the beginning of 2008.
Chief executive James Nicol said the group's managers were continuing to take steps to offset the US headwinds and to mitigate the impact of rising commodity prices through global sourcing, streamlining of its operations and price increases to customers.
"Good progress has been made in our stated group priorities, including the three-year performance improvement programme, and we have made two bolt-on acquisitions and a joint venture in high-growth markets since the beginning of the year," said Mr Nicol.
Tomkins' industrial and automotive division performed in line with expectations in the early months of the year and the positive momentum in emerging markets including Latin America, India and China was offsetting weaker demand from North American automotive equipment manufacturers.
The company said the air systems parts business within its building products operation performed steadily in the North American non-residential construction sector and won a number of contracts, although the declining US housing market continued to affect that side of the business.
"Management is taking the required actions to mitigate the impact on performance," Tomkins said without giving further details.