Oerlikon Sees ‘Double-Digit’ China Growth on Textiles Machinery
OC Oerlikon Corp AG (OERL), the Swiss machinery maker that gets about half its revenue in Asia, expects China sales to grow at a “double-digit” pace for the next few years on demand for textiles equipment and gears.
The company has filled its orderbook in China for man-made fiber machinery through 2015, Chief Executive Officer Michael Buscher said in an interview today in Shanghai, following the opening of a new office that will oversee its global textiles business. Oerlikon is also increasing sales of parts for drive systems in the country, he said.
The machinery maker boosted China sales 22 percent in the first quarter, according to a statement, as rising wages and production spur demand for factory equipment. The Pfaeffikon, Switzerland-based company is also considering expansion in Russia and Brazil, Buscher said.
“We’re assessing other countries like Brazil, because they have a good solid automotive industry,” he said. China, which accounted for 28 percent of sales last year, will grow at a “double-digit” rate, he said.
The company has no immediate plans for acquisitions or unit sales, Buscher said.
To contact the editor responsible for this story: Neil Denslow at email@example.com