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Sumitomo Demag reports jump in H1 despite coronavirus

August 13/2020

MOSCOW (MRC) -- Japanese-German injection moulding machine manufacturer Sumitomo Demag saw H1 orders for machines produced in Germany and China rise nearly 25% year on year, despite the coronavirus health crisis, said Canplastics.

Compared with the first half of 2019, injection molding machine manufacturer Sumitomo (SHI) Demag is ending the first half of 2020 with what it calls "a healthy order book." During the first six months, the value of incoming orders for machines produced in Germany rose by almost 25 per cent.

In an Aug. 12 statement, the German-Japanese company described itself as cautiously optimistic for the future". CEO Gerd Liebig attributes the positive results primarily to demand coming from the packaging and medical technology sectors. "Our intentional strategic focus on these two growth markets over the past few years has placed us in a stronger position, helping us to survive during these difficult times with a strong order increase, he said in the statement.

By contrast, demand from the automotive industry has slumped sharply for the firm, and its forecast for the consumer segment is also cautious: Due to the tense situation on the labour market and the declining propensity of consumers to buy, [we] anticipate a lower inclination among molders to invest," the statement said.

As a result of stable sales, Sumitomo (SHI) Demag expects to report a year-on-year 17per cent increase in overall incoming orders for 2020. "Our plant in Wiehe [Germany] is operating at full capacity and from November 2020 we will be producing the all-electric small machines at the historic high cycle, Liebig said. The strategic focus on this series is now paying off in full: By the second half of 2020, we will double our production capacity once again in order to meet demand.

As a result of this increase, Sumitomo (SHI) Demag is pushing ahead with the planned cooperation with its Japanese parent company, with Japan commencing production of IntElect machines later in 2020.

As it was written earlier, in July, Sumitomo (SHI) Demag Plastics Machinery completed the expansion and modernisation of its training centre and embarked on the next phase of its growth strategy by breaking ground on a new 1600 m2 warehouse, both at its site in Schwaig, Germany.

As MRC informed earlier, Russia's output of chemical products rose in June 2020 by 2.6% year on year. However, production of basic chemicals increased year on year by 4.9% in the first six months of 2020. According to the Federal State Statistics Service of the Russian Federation, polymers in primary form accounted for the greatest increase in the output in January-June. Production of benzene was 106,000 tonnes in June 2020, compared to 110,000 tonnes a month earlier. Overall output of this product reached 721,000 tonnes over the stated period, up by 3.9% year on year.
Author:Anna Larionova
Tags:elastotermoplast, injection moulding, thermoforming, Sumitomo.
Category:General News
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