Harting experiences record year, strong growth in the AmericasDecember 22, 2015 REDWIRE is news you can use from leading suppliers. Powered by FRASERS.
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The Harting Technology Group has even more reason to celebrate this holiday season. The Germany-based provider of connectivity solutions has announced that sales in the 2014/2015 business year (ending September 30, 2015) were up by 3.7 per cent to EUR 567 million, making it the highest sales year in the company’s long history.
Growth in the Americas
One of the biggest drivers of Harting’s success in fiscal year 2015 has been the Americas region, which generated a 17.3 percent growth in revenue to EUR 61 million. In fact, over the last two years, Harting has been able to boost sales in the Americas by one-third.
“The reindustrialization of the USA is a growth driver, while the interest in our Industry 4.0 solutions is also decidedly substantial,“ stated Philip Harting, the company’s chairman.
Harting also experienced growth in other markets in fiscal year 2015. In Europe (without Germany) and the Near East (EMEA), sales were up by 4.6 per cent to EUR 183 million. In Asia, Harting sales were up by EUR three million. And in Germany, sales matched the previous year’s figure of EUR 194 million.
Since the company is achieving two-thirds of total sales (66 per cent) abroad, it will be “stepping up” its activities in the Americas region. Production of small size switch cabinets, as well as moulded cables and wiring harnesses, will soon be kicking off at the Silao location in Mexico.
Looking ahead to 2016
Harting is “cautiously optimistic” about its 2015/2016 business year, which began October 1. As current assessments of relevant associations and the Federal Ministry of Economics confirm, the global business outlook has clouded further.
“In this context, I would like to mention the weaker growth emanating from China, or the growth slowdown in the emerging nations. We should also consider the fact that the mechanical engineering sector is anticipating zero growth in the upcoming 2016 calendar year,“ Harting stated.
To learn more about its 2015 results and its plans for 2016, contact Harting Canada.