Despite growing fears of an impending new economic crisis, machinery manufacturer Engel Austria (Schwertberg / Austria; www.engelglobal.com) is still basking in the sunshine of recovery from the last downturn. In financial 2011 (31 March), sales nearly doubled to EUR 615m against the dismal EUR 358m posted in financial 2010. For 2012, the company is projecting record turnover of EUR 740m, chief financial officer (CFO) Gotthard Mayringer told an Austrian newspaper. Earlier expectations had hovered around EUR 700m – see Plasteurope.com of 08.02.2011.

Along with a flexible employment policy, Engel attributes its rapid return to the performance level of boom year 2008 to its continuous investment in production, infrastructure and marketing. A new generation of machinery that achieves energy savings of 70% against older models has been a major factor. The new models are said to be in particular demand from the electronics industry in Asia, where the Austrian manufacturer operates plants in South Korea and China. Other than the possible threat of overheating in the automotive industry, which at present accounts for an “above average” share of Engel’s sales, the CFO said the company’s books show “no signs” of a near-term economic meltdown. At the same time, he said “customers may be ordering somewhat more cautiously.”