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

Obituary: Frank Nissel, Welex Inc. co-founder

August 28, 2014 1:01 pm ET

Friends, family and business acquaintances will remember Nissel as an urbane, outgoing machinery executive, an expert on extrusion, a globalist who...    More

Image

Haitian to start assembly of injection presses in India

August 25, 2014 2:59 pm ET

Chinese press maker Haitian International Holdings Ltd. plans to expand its operation in India.    More

Image

Reiloy Westland to build new headquarters

August 22, 2014 12:53 pm ET

Reiloy Westland Corp. will build a 45,000-square-foot headquarters factory, as the Kansas maker of screws and barrels expands under the ownership of...    More

Image

VDMA clarifies Tokyo statement about China

August 21, 2014 2:57 pm ET

Some remarks that VDMA President Reinhold Festge made at a recent press conference in Tokyo turned into sensational headlines in China.    More

Image

Milacron commits $30 million to investment in India

August 20, 2014 5:42 pm ET

MUMBAI (Updated) — Cincinnati-based Milacron LLC plans to invest $30 million over the next three years in India. The investments will double cap...    More

Market Reports

Thermoformed Packaging 2014 Market Review & Outlook North America

This in-depth report analyzes economic and market trends, legislative/regulatory activity impacting supply and demand, business opportunities and threats, materials pricing, manufacturing technology, as well as growth strategies being implemented by thermoformed packaging companies.

Learn more

Pipe, Profile & Tubing Extrusion in North America 2014

U.S. demand for extruded plastics is expected to grow by 3 percent in 2014, with PVC remaining the largest segment.

Plastic pipe will post the strongest gains through 2018, continuing to take market share from competing materials in a range of markets.

Our latest market report provides in-depth analysis of current trends and their financial impact on the pipe, profile and tubing extrusion industry in North America.

Learn more

2014 Injection Molding Industry Report

GROWTH, OPPORTUNITY IN SIGHT FOR INJECTION MOLDERS IN 2014

In the wake of the economic turbulence earlier in this decade, molders today find themselves in much better shape. Molders are gaining a competitive advantage by investing in people, equipment and seeking inroads into new markets on a global scale.

Growth in the injection molding industry is going to be driven by low financing costs and a continued move to reshore some business.

Learn more

Upcoming Plastics News Events

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

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

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

More Events