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Injection molding: Engel edges closer to $1-billion mark

One more good order last fiscal year would have pushed injection molding machine manufacturer Engel (www.engelglobal.com; Schwertberg, Austria) over the $1-billion sales mark for the first time. With a gross turnover of $983 million dollars for FY07/08, the firm is hardly complaining, as the figure is the highest in its history and comes after two previous years of solid growth.
According to Engel its market share grew in all of the major processing regions. In Asia, the firm benefited from its manufacturing presence in Korea and China to gain share while also avoiding some of the currency exchange turbulence other Western manufacturers faced. In Europe the firm claims its market share grew so that it now accounts for about 25% of all molding machines sold in that continent. Engel claims its share of the Americas market also grew.
The family-owned company intends to invest some of its earnings in a new technology center at its Schwertberg headquarters, to be ready in 2009, and plans to add another 6000-sq-m machine hall to its St. Valentin, Austria facility, so that the total space in St. Valentin will be 68,000 sq m. A new plant for the production facilities in Kaplice, Czech Republic also is being built.—[email protected]
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