Engel remains on expansion track


Friedrichshafen, Germany--Engel is poised to reach revenues of Euro 900 million for its current fiscal year despite an overall economic contraction in key markets like Europe and China. Peter Neumann, CEO of the global injection molding machine and automation supplier, told the assembled trade media in a press conference at Fakuma 2012 (Oct. 15-19; Friedrichshafen, Germany) that his firm's targeting of premium technology has allowed it to flourish while the broader economies in some of its biggest markets falter.

While headlines broadcast economic difficulties for Asia and Europe, Engel touts its investments in those very regions, inaugurating a doubling of its Shanghai facility earlier this year, and detailing its plans for a fourth subsidiary in Germany at Fakuma, with intentions for that site to be operation in January or February of next year.

Neumann explained how Engel has and will invest more than Euro 60 million in its global operations from 2011-2013, including Schwertberg (Euro 23 million); St. Valentin (Euro 15 million), Dietach (Euro 2 million), Shanghai (Euro 12 million), Korea (Euro 8 million), and Hagen (Euro 2 million).

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