Injection press maker Engel reports record sales

James Snodgrass
EUROPEAN PLASTICS NEWS

Published: June 5, 2013 1:45 pm ET
Updated: June 5, 2013 1:49 pm ET

Image By: Engel Holding GmbH Engel CEO Peter Neumann

Related to this story

Topics Machinery, K 2013
Companies & Associations Engel Holding GmbH

SCHWERTBERG, AUSTRIA — Engel Holding GmbH, the Austria-based injection molding machine manufacturer, reported record turnover for the 2012-13 financial year. Speaking at a pre-K press conference at Engel's Schwertberg headquarters on Monday, Engel's CEO Peter Neumann said the firm had achieved a global turnover of 950 million euros ($1.24 billion), an increase of 14 percent year-on-year.

"We never anticipated such fast recovery from the 2009-10 financial crisis," said Neumann. "In a very short period we have grown up to a level of 950 million euros, the best year ever in Engel's history."

In the year preceding the economic collapse, Engel's turnover had been 622 million euros and dropped to 358 million euros in 2009-10. The record turnover is better than the company could have predicted after the downturn. "We said after the crisis we'd be happy to go back to the pre-crisis level of 622 million euros a year," said Neumann.

The jump in turnover represents an overall increase of 165 percent since 2009-10. And the company expects further growth of about 5 percent each year for the next three years.

Neumann credits the company's success to a maturity in the injection molding machinery market. "The world industry is moving towards higher quality, high technology products."

In the Asian market, Engel now has a reported 10 percent market share (by value) up from 2 percent in 2004. Neumann noted that the total market for injection molding machines in China has decreased.

"Why is China decreasing?" asked Neumann, "It's not that they are processing less. It is because they are moving to higher efficiency, higher technology machines.

"Europe is exporting more machines to Asia than Asia is to Europe. And European companies are producing more and more in Asia.

"There is a big decrease in the low-tech market. The Chinese industry is changing, the molders are changing more and more to the high-tech segment. This will go faster in the next few years. Consumers want to have the same quality on their products worldwide."

Europe remains Engel's largest market, where it holds 30 percent market share representing 65 percent of sales but growth in the Far East, which currently accounts for 18 percent of sales, remains Engel's priority. Neumann said: "Long term we have to grow in the Asian market as this is the only real long-term growing market."

In 2012 Engel extended its plant in Shanghai, to increase capacity to more than 250 Duo machines per year. And in March this year, it extended its plant in Pyungtaek-City, South Korea, to increase capacity to over 1,200 e-Mac, e-Motion, Insert and Victory injection presses per year.


Comments

Injection press maker Engel reports record sales

James Snodgrass
EUROPEAN PLASTICS NEWS

Published: June 5, 2013 1:45 pm ET
Updated: June 5, 2013 1:49 pm ET

Post Your Comments


Back to story


More stories

Image

Large part molder EnviroTech in 'growth mode,' adds space, equipment

November 26, 2014 9:54 am ET

Salt Lake City-based EnviroTech Molded Products Inc. is adding new equipment and expanding its factory as it gains business in some of its...    More

Image

2014 US machinery shipments up 6 percent

November 25, 2014 5:17 pm ET

Through the first nine months of 2014 U.S. shipments of primary plastics equipment — for injection molding, blow molding and extrusion —...    More

Image

Globalization brings sizable growth, primarily in Asia

November 25, 2014 1:40 pm ET

In 1990, the year after Plastics News published our first issue, there were 33,000 injection molding machines sold worldwide. Fast forward to 2013,...    More

Image

Taipei Plas vandal and German firm trade lawsuits

November 25, 2014 1:26 pm ET

Taiwan businessman Karma Tang, who splashed red paint at German firm Baumüller GmbH's Taipei Plas booth, is in a messy legal battle.    More

Image

Auxiliary equipment maker Ross expands in India

November 25, 2014 1:12 pm ET

U.S. auxiliary equipment maker Charles Ross & Son Co. is expanding in India, opening a new plant early next year in Pune.    More

Market Reports

Plastics Caps & Closures Market Report

The annual recap of top trends and future outlook for the plastics caps & closures market features interviews with industry thought leaders and Bill Wood’s economic forecast of trends in growing end markets. You will also gain insight on trends in caps design, materials, machinery, molds & tooling and reviews of mergers & acquisitions.

Learn more

Plastics Recycling Trends in North America

This report is a review and analysis of the North American Plastics Recycling Industry, including key trends and statistics based on 2013 performance. We examine market environment factors, regulatory issues, industry challenges, key drivers and emerging trends in post-consumer and post-industrial recycling.

Learn more

Plastics in Mexico - State of the Industry Report

This report analyzes the $20 billion plastics industry in Mexico including sales of machinery & equipment, resins and finished products.

Our analysts provide insight on business trends, foreign investment, top end markets and plastics processing activity. The report also provides important data on exports, production, employment and value of plastics products manufactured.

Learn more

Upcoming Plastics News Events

January 14, 2015 - January 14, 2015Plastics in Automotive

February 4, 2015 - February 6, 2015Plastics News Executive Forum 2015

June 2, 2015 - June 3, 2015Plastics Financial Summit - Chicago 2015

September 16, 2015 - September 18, 2015Plastics Caps & Closures - September 2015

October 27, 2015 - October 29, 2015Plastics Financial Summit - New York - 2015

More Events