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German Reifenhauser posted record sales and earnings in fiscal 2011

December 23/2011

(PlastEurope) -- German machinery manufacturer Reifenhauser (Troisdorf) posted record sales and earnings in fiscal 2011 (30 June), its 100th anniversary year. Sales revenue increased by 12% and new order intake surged by more than 50%. Double-digit growth was seen in almost all product groups. While the company did not disclose exact figures, based on the EUR 400m recorded in fiscal 2010, the sales total is likely to exceed EUR 450m. The start to 2011/2012 was also “positive.”

German Reifenhauser posted record sales and earnings in fiscal 2011

CEO Ulrich Reifenhauser described the financial results as “pleasing,” especially after the “difficult” 2008/2009. “We wanted to emerge from the crisis stronger than before, and there is no doubt that we have accomplished this goal,” he said, adding that the machinery group’s flexibility to respond to specific market situations and the product-oriented approach of its independent subsidiaries have proven “very successful.”

Over the past fiscal year, Reifenhauser said the group has won “numerous contracts” in emerging markets, especially in India, where a rapidly growing middle class portends double-digit growth rates for the flexible packaging market. In particular, the country’s burgeoning demand for film products has led to a “significant increase” in orders for plant and equipment to manufacture barrier films. Cast films are also increasingly in demand, especially as regards PP film of various types.

The German group sees itself as “well positioned” to handle a higher volume of orders from the Indian market. It already has a presence in the country with subsidiary India Marketing Ltd, which employs 70 people in Mumbai and at seven additional locations.

Author:Marina Ivanova
Tags:PP, film.
Category:General News
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