German CNC lathe builder's orders grow by 21%

Builder of CNC turning centes and lathes, Gildemeister, reported an increase in order intake of 21% for the first half of 2007 and is targeting total ordes for 2007 as EUR 1.6bn.

Builder of CNC turning centes and lathes, Gildemeister, reported an increase in order intake of 21% for the first half of 2007 and is targeting total ordes for 2007 as EUR 1.6bn.

Gildemeister is aiming for an end of year order intake of EUR 1.6bn (GBP 1.14bn) giving a clear double-digit percentage increase in profitability.

A combination of improving business levels and EMO 2007 expectation predicts brisk business.

Gildemeister and its DMG group members will be showing 68 machine tools at EMO 2007, of which 12 will be shown for the first time.

* Order intake - in the first half of 2007, order intake exceeded expectations with a growth of 21% reaching EUR 857 million (GBP 612.7 million).

Associated profitability increased from EUR 6.3 million (GBP 4.5 million) to EUR 16.7 million (GBP 11.9 million) generated by increased doemstic, European and Asian demands.

At the end of the six month trading period to 30 June 2007, Gildemeister increased its workforce by 72 to 5,719 people, of whom 163 are now trainees.

Altogether 59% are employed within the domestic operations of the company.

* Eastern Europe - Gildemeister said that Eastern Europe will be important for future expansion and following the acquisition on 1 July of robotic automation allied to machine tools specialist WKZ Werkzeugmaschinen (Machine tools - Ed), the group will be providing in-house machine tool production automation equipment as a fully integrated package.

WKZ Werkzeugmaschinen will be be renamed DMG Automation.

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