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

Windmöller & Hölscher looking to continued growth in China

July 21, 2014 3:40 pm ET

With 2013 global sales of 600 million euros, China has grown into an important export market for Windmöller & Hölscher KG, second only to the United...    More

Image

Thermoforming Technology Group adds Lyle Industries to its portfolio

July 18, 2014 2:48 pm ET

Thermoforming Technology Group LLC has expanded its thermoforming equipment presence with the acquisition of Lyle Industries Inc.    More

Image

Infiltrator goes very large scale for injection press

July 18, 2014 1:45 pm ET

Infiltrator Systems Inc. has designed and built a mammoth injection press, with 6,000 tons of clamping force, to mold septic tank halves measuring 15 ...    More

Image

Milacron names Gallagher COO

July 17, 2014 1:41 pm ET

U.S. machinery maker Milacron LLC has named John J. Gallagher III as Chief Operating Officer for its Melt Delivery & Control Systems, Fluid...    More

Image

Italian machinery exports up

July 16, 2014 11:40 am ET

The Italian trade association for plastic and rubber processing equipment makers, Assocomaplast, has announced that exports are up by almost 9 percent...    More

Market Reports

Injection Molders Market Report & Ranking 2014

This special package contains our 132-page 2014 Market Report on the Injection Molding segment and our exclusive 2014 RANKINGS database of 500+ Injection Molders for a discounted package price.

Learn more

Plastics Recycling Market Review & Outlook 2014

This special report from Plastics News examines the North American plastics recycling industry and provides insight into indicators that impact market viability, including Resin pricing trends for virgin and recycled market material and historical Resin production trends for post- consumer and industrial waste.

Learn more

Shale Gas Market - Analysis of North American Region

This report highlights the impact of shale-based natural gas on the North American plastics market and features an in-depth analysis of production trends in the United States during 2013 and a forecast for 2014 and beyond.

Learn more

Upcoming Plastics News Events

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

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

More Events