German tool machinery: export trade increases by a third
German industry has been accustomed to impressive figures over the past few years. Tool machinery manufacturers can post record results for 2011. Last year alone, export sales increased by a third according to figures announced at the latest VDW annual press conference. China is by far the most important export market.
But the domestic market for manufacturers of tool machinery has also grown at an above-average rate, i.e. by around 38 percent. The industry has never been able to record such values before. In an attempt to establish the reasons for this success, cars play a key role: "The automobile industry, its suppliers and the engineering sector have benefited from the international market boom and equipped their German production facilities with state-of-the-art manufacturing technology", explains the Verein Deutscher Werkzeugmaschinenfabriken (VDW) in its current press release.
- German tool machinery demanded worldwide. Often on board: LMT Tools' experts.
USA turnover increases by 71 percent
In view of the current VDW figures, the role played by individual foreign markets is particularly interesting. China continues to adopt a dominating role. Around a third of all tool machinery manufactured for export is designated for China, whereby turnover increased within one year from 1.4 billion Euro to more than 2 billion Euro. Surprisingly, the greatest increase however can be recorded by another foreign market: in North America, turnover increased by more than 71 percent to 645 million Euro. Here too, the automobile industry is primarily responsible for this explosive increase, according to estimates by the VDW. "Made in Germany" is in demand when it comes to new machinery and equipment.
LMT presence worldwide
These figures are of great interest to LMT – particularly with regard to the foreign markets. With sales and service subsidiaries and in alliances with partners, LMT Tool Systems offers its customers all over the world tool solutions of industrial standard. The range comprises precision tools and cutting materials for a wide variety of applications in metal-cutting and chipless machining as well as service programs for tool reconditioning and Tool Management.