German machinery sales pick up
G
erman plastics and rubber machine makers recorded 17% higher sales in the last financial year, pointing to a recovery in the market that was faster than expected, according to VDMA, the German Plastics and Rubber Machinery Association. Furthermore, sales outside Europe increased by 19%, led by China, the US and India.
"The process of recovery was so strong that by the end of the year sales had grown even faster than predicted," said Ulrich Reifenhäuser, President of VDMA.
Meanwhile, Ulrich Reifenhäuser, who is also the rotating chairman of the German Plastics Industry Federation (WVK), said that the recovery has turned out far better than the industry consensus predicted 12 months ago and the positive trend in the second half of 2010 has taken many market participants "by surprise". He added, "The rather cautious estimates dating back to the middle of the year were overtaken by events."
VDMA says its members will generate EUR4.5 billion in sales in 2010 since many companies have a backlog of work and are working at full capacity well into this year. Ulrich Reifenhäuser said, "Many firms in the plastics industry have full order books; production and employment for the weeks and months ahead are secure."
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