Engel coming off a banner year, with best ever sales
Canadian PlasticsPlastics Processes Injection Molding: Machinery & Equipment
Injection molding machinery manufacturer Engel enjoyed a record year, company officials said during a press conference held April 3 at the NPE show in Orlando. Engel Holding CEO Dr. Peter Neumann said it was the best year ever for his company,...
Injection molding machinery manufacturer Engel enjoyed a record year, company officials said during a press conference held April 3 at the NPE show in Orlando. Engel Holding CEO Dr. Peter Neumann said it was the best year ever for his company, with turnover of US$1.1 billion for the fiscal year that ended March 31.
Engel had strong sales in the U.S., in the order of a 30 per cent gain. Sales of injection molding machines in North America are expected to reach 3,000 units in 2012, a substantial gain from the low point in 2009, when only 1,285 machines were sold according to statistics from the Society of Plastics Industry Inc. Machine capacity at U.S. injection molders is expected to be in the 76-77 per cent range this year, versus 67 per cent three years ago. This means molders are in once again in an equipment buying mood.
Engel reports more growth in complete systems and multi-color machines, as molders turn to new technology to stay competitive.
Dr. Neumann noted that in Europe, the German market is strong, especially because of developments in automotive technology in the quest for more lightweighting. He foresees a dramatic change coming over the next ten to fifteen years in the way cars will be built, with more metal and plastic combinations and new ideas in automation.
As previously reported, Engel has announced a 12 million euro (US$15.8 million) expansion at its headquarters in Swertberg, Austria. It is also tripling the capacity of its plant in Shanghai to serve the growing Asian market.