German association VDMA reports the industry’s turnover increased by 8% in 2003

German association VDMA reports the industry’s turnover increased by 8% in 2003

German plastics machinery manufacturers association VDMA reports the industry’s turnover increased by 8% in 2003. This compares with a more conservative 5% forecast made by the association in January and a zero growth forecast made one year ago.

The 2003 turnover of E7.1bn covers core plastics machinery, moulds, tools, ancillaries and flexographic printing machinery. VDMA managing director Bernd Knoerr told PRW.com that turnover for core plastics machinery, representing around 64% of overall turnover, grew by 8%.

VDMA reports growth in the domestic market last year. This compares with unchanged turnover in both domestic and EU markets in 2002, when the increase was contributed primarily by Asian, East European and non-EU markets. More detailed figures, such as geographical distribution of sales, and sales of specific machinery types, will be available in July.

With an estimated 13% growth in incoming orders in 2003, VDMA now forecasts 5% growth in plastics machinery turnover for 2004.