YORK, Pa. (July 20, 2011)—Global injection molding machine maker Engel Holding GmbH has rebounded to nearly its pre-recession sales levels.
The company reported sales from shipments during the 2011 fiscal year of $881 million, up nearly 72 percent from 2010, when the company was suffering through the global slump in machinery sales.
Sales at the Schwertberg, Austria-based company in 2009, before the recession, were $908 million.
“As far as I'm concerned, we are back to our 2009 level, and more important, we are looking forward confidently,” Mark Sankovitch, president of York-based Engel Machinery Inc., said in a news release. “Our global revenue forecast for FY 2012, which ends March 31, 2012, is double-digit growth. That is definitely achievable as long as market conditions remain stable.”
Engel credited its 2011 success to good results in all of the company's key markets and global regions, including North America.
Sankovitch said the medical and packaging markets saw the strongest growth in North America in 2011. This year, those markets are joined by significant growth in the automotive sector.
Engel is seeing some sales in replacing older molding machines with clamping forces of 1,000-plus tons. In the medical sector, the company's all-electric technology is generating interest.
“We also design systems that minimize particulate contamination in clean and white rooms, and we create better methods for cleaning the machinery, also to reduce contamination,” Sankovitch said.
Sankovitch became president of Engel Machinery on March 31, 2010.