Engel reports an increase in sales

Aug. 12, 2016

Engel Austria GmbH, Schwertberg, reported sales of $1.38 billion for its 2015-2016 fiscal year, up from sales of about $1.2 billion in the prior year. The company is predicting continued growth for 2016-2017, citing Asia as the most important growth market for the company.

The company also said that the plan for its ongoing expansion of the Schwertberg headquarters facility has changed, with the new building now to include an additional level. Furthermore, Engel said it has begun construction of two warehouses at the site of its St. Valentin, Austria, production plant. In the fall, Engel will begin building a second manufacturing facility at the St. Valentin location for producing large injection molding machines. The expansions are part of a previously announced investment of about $110 million in the company's facilities during the 2016-2017 fiscal year.