K2025: Engel acquires foaming specialist Trexel; spells out tough times in markets, growth continues in Asia

Austrian injection moulding machine manufacturer Engel is expanding its foaming portfolio by having acquired its long-standing partner Trexel Inc., headquartered in Massachusetts, US, which commercialised the MuCell technology, a microcellular foaming process in injection moulding.

With this acquisition, Engel gains the stability and long-term perspective needed to advance its technology successfully, it adds.

“Trexel is a pioneer in physical foaming. We are convinced that this technology holds tremendous potential. With Engel in the background, Trexel can operate independently while benefiting from the global strength of our group,” says Stefan Engleder, CEO of Engel.

He also added that Trexel will continue to operate independently, headquartered in Austria, with its own sales, service and R&D, and continue with its focus on the footwear segment without change.

Engel has collaborated with Trexel for many years. Alongside initiatives in chemical foaming, the combination with Trexel further strengthens Engel’s leading role in physical foaming.

“Through this acquisition, we are accelerating the further integration of MuCell into the injection moulding process. We also now have the ability to scale more easily — because we are convinced that foaming is a growth market,” Engleder adds.

The technology is also a key building block for greater sustainability: foamed products are lighter, require less raw material and help reduce the carbon footprint.

Turnover down, looking East

Meanwhile, displaying its products at K2025, Engel adds it is navigating one of the most challenging phases since its founding 80 years ago. In financial year 2024/25, it had a turnover of EUR1.5 billion and for the current year, turnover is expected to decline by around 7% to EUR1.4 billion, reflecting the broader economic slowdown in many regions.

For an overall sales outlook, Engleder added that in Europe and the US, investment appetite remains subdued, while in the Middle East, Asia and parts of Africa, conditions are stable. The company also singled out Southeast Asia, where growth continues, it added.

“Overall development in Asia is stable. Unit sales are on plan, but price pressure and demand for cost-optimised solutions lowering average revenue. The Wintec portfolio gaining importance, driven by short delivery times and economically scalable turnkey solutions. New logistics applications are gaining in importance,” said the company in a statement.

Medical/packaging becoming a staple

In terms of sectors, Engel adds that “medical technology and packaging are slightly below plan but trending positive. Uncertainties around tariffs and supply chains are delaying investments in some areas, while Chinese outward investment becoming a growth driver”.

In medical, the sector is driven by the demand for highly automated and all-electric solutions, especially for complex applications such as drug-delivery systems.

In packaging technology, a challenging market environment is dampening large investments, while the demand for standard applications and solutions with recycled materials remains stable. The forthcoming EU PPWR regulation is adding momentum.

 In the automotive sector, the situation remains tense. Investment is selective, often tied to new lightweight design concepts, battery applications or glazing. Many customers are prioritising retrofits and machine relocations over new purchases. Growth opportunities arise where functionally integrated plastic components are used - for example, smart front and rear modules.

In the technical moulding, developments vary. Rising energy and labour costs are hampering investment, but first impulses are coming from the construction sector. The market demands integrated, automated solutions that maximise availability.

Despite the tense market situation, Engel adds it is staying true to its claim and strengthening customer proximity.

"For us, it's about value before volume," explained Engleder. "The company's global presence, consistent focus on innovation and its two-brand strategy with Engel and Wintec are proving their worth," Engleder concluded.

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