Schwertberg, Austria — Officials for machinery maker Engel Holding GmbH expect final sales numbers for 2018 will see the company surpass 2017 results, but they see slowing sales in 2019.
Christoph Steger, chief sales officer for the Schwertberg, Austria-based company said during a March 7 interview with Plastics News Europe said Engel will exceed 2017 results by several percent in 2018, adding, “it will be positive, but we see a significant degree of global weakening, although it varies from one industry to another.”
Global statistics show incoming orders for machinery producers significantly below 2018, but that has not been seen yet in delivery times, which are still as long as three to six months depending on machines sizes.
“My personal opinion is that we will settle down at around the 2015 volume — if there are no more bad omens. The present high tensions between the U.S. and China affect sentiment throughout the world, by leading to reluctance to make investments,” Steger said.
Additionally, Steger sees a potential source of further negative impacts to the world economy in the Middle East
“I am not only speaking about Iran with a Damocles sword hanging above it, more about potential proxy wars that could impact the global economic development,” he added.