Fresh off the heels of Engel's recent announcement that it has founded a 100%-owned subsidiary in China, the company brought out its top management to talk more about this news at Chinaplas Media Day.
"We wanted to show you how important this news was and we have brought our top management to show you this new company, Wintec," said Peter Neumann, CEO of Engel.
The Austrian-based injection molding manufacturer said that for the 2013-2014 financial year, it was able to improve its market position in Asia, which climbed to 11%. The increase in turnover was particularly strong in China.
"We expect China to be the biggest market for Engel in the future," Neumann commented.
Engel has had a presence in Asia for quite some time with a plant for large-scale machines located in Shanghai while injection molding machines in the small and medium clamping force segments are built in Korea.