The market for injection molding machines fell last year – “we managed to gain market share,” says Stefan Engleder, head of machine manufacturer Engel from Schwertberg. However, the family business from Upper Austria also experienced a decline in turnover. This fell to 1.6 billion euros in 2023/24.
Lease and permanent staff will be eliminated; This cut affects 35 jobs at the large Engel machine factory in St. Valentin – this report was published at the end of January 2024 and has already shown that the machine manufacturer from Upper Austria is. also have difficulty.
“Parts of our Austrian factories are underutilized,” it was said at the time. The reduction in holiday and time savings accounts had to be used to cope with the difficult situation.
So far I have escaped with “a black eye”.
And now? “Thanks to the high order level, we have so far gotten away with a black eye. These have now almost been processed,” says boss Stefan Engleder, who reveals: “Despite one or two better weeks in terms of incoming orders, we are currently not seeing a sustainable economic recovery.”
Nine production factories
The growth strategy remains committed to the new financial year 2024/25. They want to invest an amount of more than double-digit millions in expanding the global network. Engel has a total of nine production plants in Europe, North America, China and Korea. In Austria, machines are built in Schwertberg, Dietach and St. Valentin.
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.
