VDMA Drive Technology
More sales and a new Management Board
The VDMA Drive Technology Association reports a new Executive Board and an increase in industry turnover following its general meeting.
At its general meeting, the VDMA Drive Technology Association elected a new board of directors. It comprises 18 members and has elected Bernd Neugart from Neugart GmbH as its new chairman and Dr. Stefan Spindler from Schaeffler as his deputy. Neugart succeeds Wilhelm Rehm from ZF Friedrichshafen, who is stepping down as Chairman after seven years. "With the key topics of sustainability and climate protection and the broad field of digitalization, opportunities are opening up for promising products and technologies in ever new areas of application. We are committed to our members in this area and want to continuously expand our network and service portfolio of the trade association," said Bernd Neugart after his election.
Industry turnover on the rise
Business in the drive technology sector is developing positively: in the period from January to July 2021, incoming orders were up 40% on the previous year, which is why the forecast for the year as a whole has been raised to 12% sales growth.
Based on the high order backlog, sales growth of 5% is currently expected for 2022. There are hopes of returning to pre-corona levels by the end of 2022.
"The order situation is pleasing and shows that the companies are successfully positioned on the market with their portfolio - drive technology is up and running. The current supply bottlenecks and the shortage of skilled workers are causing concern, both of which are key challenges for the coming months," says Neugart.
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