Posted to News on 17th Apr 2015, 16:00
Phoenix Contact sees signs of excellent growth
Phoenix Contact CEO Frank Sthrenberg expressed his "delight at the results for 2014" during a press conference on the company's economic growth for the past year. The corporate group's revenues grew by 8.5 per cent to EUR1.775 billion. Highlighting the successful results, Sthrenberg says: "We have tripled our revenues within 15 years." The industrial electronics manufacturer invested EUR125 million in the expansion of the corporate group. An 11,000-m ² innovation and production centre was opened in the U.S., where 250 employees work in research and development, marketing, and production. The global workforce increased by approximately 1100 new employees.
Phoenix Contact is expecting revenue growth of eight per cent for the current year. Sthrenberg is optimistic in his outlook. He says: "We are seeing a growth in the markets where Phoenix Contact already has a strong presence and our products have already been in use for a long time." These include the market segments of infrastructure, energy distribution, and renewable energy. The company wants to invest approximately EUR150 million in national and international expansion activities. A new building in Bad Pyrmont, Germany, will provide an office and lab space of 18,000 m ² for the corporate group's ability to provide expert systems. Completion is slated for the end of 2016. Phoenix Contact E-Mobility GmbH will establish a subsidiary in China, the world's largest electromobility market, in the third quarter of 2015. An investment of EUR20 million will increase production volumes at the site in Nowy Tomyl, Poland. On 1 September, 100 trainees will embark on a new career, and almost half of them will start in July already as part of their dual education study programme.
Touted as the economic barometer of consumer confidence, the Hanover Trade Show begins on 13 April. India is the partner country this year. The electronics specialist will present its innovations and forward-looking technologies at the 2,300-m ² exhibition space. One of the main topics will be Industry 4.0, a guiding principle that demonstrates how digitalization is changing not only society but industrial processes, as well. Visitors can experience the continuous data flow live in Hall 8. Here the companies Eplan, Rittal, and Phoenix Contact will be demonstrating a continuous, automated process, from the digitization of an item to its engineering and production. Sthrenberg explains: "The Hanover Trade Show has traditionally been a key international trade show for us. This year, we will be exhibiting more than 100 innovations and are expecting delegations from more than 50 countries with over 1,000 visitors."
For further details about Phoenix Contact's economic growth success, please go to www.phoenixcontact.co.uk.
