Germany-based igus GmbH posted a 17% increase in sales in 2017, according to figures released this week by the company at Hannover Messe 2018. igus, which also has a presence in Providence, R.I., is the manufacturer of motion plastics.
The company reported increased sales to 690 million euros, which corresponds to more than $840 million in United States currency. The manufacturer also made significant investment in product innovation, delivery efficiency and improving its digital capabilities. The Cologne-based supplier plans to continue its aggressive growth strategy in 2018 to help customers be even more competitive in the global marketplace.
At Hannover Messe 2018, igus demonstrated that its tribo-polymers have long been more than grey, unremarkable plastic parts. The world of motion plastics is varied and multi-faceted. Its product line includes individual robot joints that lead to the development of low-cost robots, 3D-printed double gears that can be configured online, and energy chains that can be monitored during operation. Some applications in which igus’ high-performance plastics are being used include machines in semi-conductor production, more than 1,000 STS cranes from Antwerp to Shanghai, and in amphibious vehicles that operate in the North Pole.
The primary objective of igus is to help manufacturers achieve technical improvements and reduce costs through the use of high-performance plastics for moving applications. The business has more than 200,000 customers worldwide.
The international business sells 53 percent of its products to companies in Europe, 30 percent in Asia and 17 percent in the United States and Africa. The number of employees at igus expanded to approximately 3,800 in 2017.