Despite the energy crisis and the like, the Tyrolit company managed to realize an increase of more than ten percent last year. The number of locations was expanded to 31. The new markets also bring in good money.
The Tyrolean technology company Tyrolit, headquartered in Schwaz, speaks of a “successful course that can be continued”. With a turnover of 727 million euros in the previous year, an increase of 10.1 percent was achieved compared to 2021 (663 million euros). CEO Thomas Friess: “High-tech solutions in the abrasives sector and technologies ‘Made in Tyrol’ are more in demand worldwide than ever. We were able to grow strongly in 2022 and further expand our market position.”
Strategic acquisitions are a major part of success
After the pandemic-related losses in fiscal year 2020, the company has returned to strong growth over the past two years. The success is also attributed to strategic acquisitions. 30 percent of revenue came from products that have been on the market for less than three years. A special focus is on future industries such as medical technology or the semiconductor industry.
The acquisition of the Turkish group “Egeli Egesan” increased the number of production sites from 29 to 31. “The acquisition in Turkey has strengthened our competitive position in the long term. This gives us good access to the growth market in the Middle East and allows us to continue our focused development as a leading European technology company,” says CEO Friess.
Accelerating the pace in sustainability
Especially in the field of sustainability, they have increased the pace. This includes the construction of one of the largest solar systems in Tyrol with a total area of 3660 square meters. In addition, two e-trucks have been taken into use for internal company traffic.
Source: Krone
I’m Ben Stock, a journalist and author at Today Times Live. I specialize in economic news and have been working in the news industry for over five years. My experience spans from local journalism to international business reporting. In my career I’ve had the opportunity to interview some of the world’s leading economists and financial experts, giving me an insight into global trends that is unique among journalists.
