Turck on Course for Growth

Press Releases | By Hans Turck | 31 October 2014
Turck managing director, Christian Wolf, expects a total turnover of around 470 million euros for 2014. Turck managing director, Christian Wolf, expects a total turnover of around 470 million euros for 2014. Photo: Turck

German automation specialist will increase this year's group turnover to around 470 million euros - sales growing in the product management area RFID 2014 by 7 percent

Turck, the Mülheim-based automation specialist, is expecting a consolidated group turnover for the current financial year 2014 of around 470 million euros. According to Turck managing director Christian Wolf, the family-owned enterprise can achieve an increase in turnover of over five percent by the end of the year. In 2014 the number of employees worldwide rose from 3,350 to over 3,500. Exactly a half of these are employed by the Turck Group at its German sites in Beierfeld, Detmold, Halver and Mülheim an der Ruhr.

“With more than ten percent growth we enjoyed above average success in 2014 in the German market and likewise in North America,” Wolf said. “To maintain continued growth above the market average, Turck is continuously investing in the future. This not only applies to product development but all corporate areas. Between 2012 and 2016 the amount invested in buildings, production, logistics and IT solutions will be around 100 million euros. Furthermore, as part of our globalization strategy we have founded 13 new national subsidiaries in the last ten years. The latest example is the acquisition of our long standing Canadian sales partner Chartwell Automation, with which we wish to extend our market leading position in North America.”

In spite of the currently gloomy economic indicators, Wolf expects further growth in 2015: “A forecast at this time is difficult due to the uncertain development of the economy. As things currently stand, however, we also expect to grow faster than the market in the coming year and achieve at least five percent growth,” the Turck managing director said.

Last modified on Saturday, 01 November 2014 09:11
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