Dr Peter Neumann reported a predicted seven percent growth for the company by the end of the 2014/15 financial year, stating that innovation would be a growth driver for the future
Engel has reported it has sustained the high levels of growth it saw in 2012/13 with a projected seven percent increase in turonover when its current financial year ends next year.
Speaking at Fakuma in Germany, Engel CEO, Dr Peter Neumann, said that the company has generated some €935 million Euros in sales revenues so far worldwide in 2014 , but remained tight-lipped about his feelings on potentially breaking the €1 billion mark by the end of March 2015.
“We will have to wait and see,” said Neumann. “Our financial year concludes on 31st March, so we will look at the figures and make an announcement only then. For now, we are satisfied with the projection of a seven percent increase.”
Neumann reported that the order situation “was good” and that despite political conflicts weakening individual regions such as Russia, the growth of formerly weak markets is compensating the decline.
China, the USA and Mexico continue to be the company’s fastest growing markets and Neumann told BP&R that the UK market had performed “very positively.”
“The UK has been a very positive surprise in Europe,” he explained. “There have been a number of projects for us with the major automotive manufacturers that have returned to the country.”
Engel said that automotive is an area driving sales for the company due to the rise of investment in innovations, with lightweight design one of the most important drivers.
"We have only seen the beginning of lightweight automotive engineering," said Neumann. "In the field of fibre composite engineering in particular, we can look forward to strong growth in the injection moulding industry in the next few years."
The company reported that the demand for complete production systems, as opposed to individual machines, is driving innovation due to the complexity of the integration required, as well as driving sales.
"The requirements are becoming increasingly complex," as Dr Stefan Engleder, the CTO of Engel, commented. "Low unit costs, maximum productivity and sustainability can only be combined if all components of a manufacturing cell optimally mesh."
Process integration and automation are reflected in the company's exhibits at Fakuma, with the company premiering the new ‘Engel e-pic’ at the show, an efficient pick-and-place robot for small moulded parts and sprues.
The company is also focusing on 25 years of tie-bar-less innovation, as well as its ‘flomo’ system for process control.