Kiefel attributes higher sales to Southeast Asia growth

German machinery maker Kiefel says it had a successful year in 2016, particularly due to increase in sales in Southeast Asia, where it had the largest percentage increase in order intake and sales. This it says was a result of the intensification of its market processing in Asia.

Kiefel adds that after incoming orders of 2016 developed “very positively”, the related turnover of 2017, including the turnover of sister companies, Bosch Sprang in the Netherlands, Mould & Matic Solutions in Austria and SWA in the Czech Republic, increased by 50% to approx. EUR200 million.

Incoming orders have also risen at the same rate in the first half of 2017. “This stabilises the positive business development and it is already clear: 2017 will be a new record year for Kiefel,” says the company that belongs to German family-owned packaging machine maker Brückner Group.

Incoming orders and turnover have increased in all Kiefel business areas. Even though the largest contribution to comprehensive income is made by the packaging sector, likewise, record results have been achieved in the automotive and medicine fields.

"The order intake of the last year and the resulting sharp increase in turnover this year far exceeded our expectations. Also in the current financial year we are expecting a significant increase of sales figures compared to the previous year,” emphasised Kiefel CEO, Thomas J. Halletz.

"This results, on the one hand, from the successful placement of our innovative technologies and systems. On the other hand, we have been able to round off our product portfolio with some acquisitions, thus opening up further customer bases.”

In Europe, it said there is a clear improvement in the economic situation. Accordingly, the region continues to be the most important sales market for Kiefel.

Due to the favourable economic situation, a record order intake was also achieved in the US market. The Kiefel Technology Centre in Detroit and the acquisition of the tool and mould manufacturer Paragon Molds also opened up further growth opportunities in the automotive sector.

Kiefel in Freilassing, Germany, has 500 employees, with some 1,000 people working for the Bavarian company globally.

(PRA)