Festo Canada foresees continued strong growth, top exec saysSeptember 29, 2017 REDWIRE is news you can use from leading suppliers. Powered by FRASERS.
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With strong sales growth over the last several years, and innovative new products helping to fuel its momentum, Festo Canada’s future has never looked brighter, and there is no slowdown in sight. That was the company’s message at the recent Canadian Manufacturing Technology Show (CMTS), which took place from September 25-28 in Mississauga, Ont.
“We’re seeing sustained growth in pretty much all of our key market segments, a sure sign of the vitality of the Canadian economy, the recovery of manufacturing in particular, and the quality and value of Festo products,” said Roger Hallett, president and CEO of Festo Canada.
A bright future
Sales are strong in all major Festo markets across Canada, in both traditional customer base in automotive and machine building, and in growth markets like bioscience and food and beverage.
“We’re seeing rising sales of both pneumatic and electrical components and handling systems,” said Hallett. “That growth in pneumatics means our base business, comprised of many long-standing customers, is very busy.”
The rest of the year looks solid, and with many customers planning significant projects that ramp up next year, the medium-term outlook remains positive, he added.
The global market
The Canada-European Union trade agreement (CETA), which is eliminating or beginning the phase out of tariffs applied to each other’s imports, is another positive development, said Hallett.
“We welcome CETA as a demonstration of commitment to open and global markets by our government. Such agreements dovetail nicely with Festo’s worldwide product development, manufacturing and logistics strategy.”
To learn more, contact Festo.