Engel reports record sales for North America

By Gayle S. Putrich
Staff Reporter

Published: May 1, 2013 3:14 pm ET
Updated: May 1, 2013 3:19 pm ET

Related to this story

Topics Machinery, K 2013
Companies & Associations Engel Holding GmbH

YORK, PA. -- Engel North America reported more than $200 million in sales when the privately held company closed the books on fiscal year 2012 at the end of March.

Sales were at a record high, according to the York, Pa.-based injection molding machine maker, a division of Austria's Engel Holding GmbH, marking a massive turnaround from the global recession just a few years ago, when sales dipped to $59.5 million in fiscal 2010.

"We are very fortunate that the markets turned around for us," said Mark Sankovitch, president of Engel Machinery Inc.,

He attributed a big part of the 236 percent sales bump over the last two years to the recovery of the U.S. automobile industry, a major link in the overall plastics industry supply chain.

"Auto is a big driver for all of us and when that market goes down, so do we. But we all reap the rewards when it comes back, too," he said.

As the automotive market rebounds, companies are looking to replace aging injection molding machines and add equipment with an eye toward performance, automation and energy efficiency, all of which are focuses for the Engel product line.

Engel's medical and packaging business units also saw increases, Sankovitch said. The medical market is seeing demand for higher cavity molding and faster cycle times as part of its overall market growth. As the U.S. housing market also rebounds, Engel executives expect to see a steady increase in demand for products in its technical molding business unit.

Amid the enthusiasm, Sankovitch said it is important to maintain some overall business perspective. While more than 200 percent growth in a few years sounds impressive, that includes recovering from recession losses.

"If you throw out fiscal 2009, we are, right now, where we should be," he said. "It's not 200 percent growth every three years. No company could sustain that kind growth anyway. We're a fourth-generation family-owned company, we're running a marathon and not a sprint."


Comments

Engel reports record sales for North America

By Gayle S. Putrich
Staff Reporter

Published: May 1, 2013 3:14 pm ET
Updated: May 1, 2013 3:19 pm ET

Post Your Comments


Back to story


More stories

Image

CPM Extrusion, ECON launch new line of underwater pelletizers

April 23, 2014 11:25 am ET

CPM Extrusion Group and ECON GmbH unveiled their brand new EUPC line of underwater pelletizers today at ChinaPlas held in Shanghai, China.    More

Image

TSM growing into a second generation of leadership

April 23, 2014 12:50 pm ET

This is a time of great growth for the Dundalk, Ireland-based TSM Control Systems, a company that has created a name for itself since 1977 by...    More

Quality Vision buys ShapeGrabber

April 23, 2014 10:19 am ET

Quality Vision International Inc. of Rochester, N.Y., has purchased ShapeGrabber Inc., a maker of automated three-dimensional scanners, in a deal...    More

Image

Top export markets for Italian machinery and molds

April 17, 2014 9:00 am ET

Top export markets for Italian machinery and molds    More

Negri Bossi's new owners may 'bring significant manufacturing' to US

April 16, 2014 1:09 pm ET

Italian plastics equipment major Negri Bossi may “bring significant manufacturing of injection molding machines back to the United States”...    More

Market Reports

Market Data Book - Rankings & Lists

A one-stop download of Plastic News' exclusive annual lists and processor rankings containing essential data including sales, employees, end markets, materials and more.
EXCLUSIVE EXCEL FEATURE: full mailing address details for available plant locations.

Learn more

Thermoformed Packaging 2014 Market Review & Outlook North America

This in-depth report provides analysis and discussions of economic and political conditions, market trends, legislative/regulatory activity impacting supply and demand, business opportunities and threats, materials pricing, manufacturing technology, as well as strategies being implemented by thermoformed packaging companies. In addition, there are reviews of 25 leading thermoformers in the packaging segment, assessing their growth initiatives and performance metrics over 10 years.

Learn more

Mold Making and Tooling Review and Outlook 2014 North America

This report provides in-depth analysis of the mold and toolmaking market for North America, including discussions of trends, opportunities, threats, the latest developments in production and labor and equipment trends impacting moldmakers.

Learn more

Upcoming Plastics News Events

May 6, 2014 - May 8, 2014Plastics in Medical Devices 2014

May 12, 2014 - May 12, 2014Plastics News Brazil Pharma Summit

September 10, 2014 - September 12, 2014Plastics Caps & Closures 2014

February 3, 2015 - February 7, 2015Plastics News Executive Forum 2015

More Events