Machinery supplier Kiefel GmbH has seen an increase in orders throughout 2016 and into the first half of 2017.
Part of the Germany-based Brückner Group, Kiefel said on Aug. 23 that sales from its holdings, including Bosch Sprang in the Netherlands, Mould & Matic Solutions in Austria and SWA in the Czech Republic had increased 50 percent to nearly 200 million euros ($237.6 million) in 2016.
Incoming orders rose at the same rate in the first half of 2017, said the Freilassing, Germany-based machinery supplier in an Aug. 17 news release, predicting it to be a new record year.
The increase was observed in all Kiefel business areas, including packaging, automotive and medicine.
"The order intake of the last year and the resulting sharp increase in turnover this year far exceeded our expectations. Also in the current financial year we are expecting a significant increase of sales figures compared to the previous year," said Kiefel CEO Thomas Halletz.
According to Halletz, Kiefel's recent technological improvements as well as acquisitions have contributed to the positive results.
While an improved economic situation in In Europe helped push up the orders, a favorable U.S. market also helped Keifel hit record order intakes in North America.
The Kiefel Technology Center in Detroit and the acquisition of the tool and mold manufacturer Paragon Molds also opened up further growth opportunities in the automotive sector.
The largest increase in order intake was in Asia, particularly in Southeast Asia, which Kiefel attributed to “the intensification of market processing” in the region.
