In terms of regions, the weighting has shifted further towards China, India and the USA. Europe is still the most consolidated market according to the trends in the various sectors. In terms of products, drives for mobile machinery accounted for around 45% of sales, while drives for wind turbines generated around 13%. The rest of the turnover was generated by drives for industrial applications.

"2018 was a very exciting year. Our three-year investment plan of 158 million euros together with our strong global commitment have led to exceptional growth while creating a solid basis for future development in terms of technologies, processes and services," said a satisfied Fausto Carboni, CEO of the Bonfiglioli Group.

In the mobile construction machinery sector, Bonfiglioli has grown six to seven percent faster than the market worldwide in the last two years. In the USA, China and India, sales have cumulatively doubled in the last two years.

At the end of 2018, Bonfiglioli completed the acquisition of O&K Antriebstechnik in Hattingen and thus became the sole owner of the German company. The leverage effect on market and product complementarity between Bonfiglioli and O&K has resulted in positive market reactions and generated operational synergies since Bonfiglioli took control of O&K Antriebstechnik at the end of 2015. In fact, during this period, O&K's turnover increased from 36 million euros in consolidated turnover in 2015 to around 71 million euros in 2018. The positive trend is expected to continue in 2019, also thanks to a new and more efficient product design and the development of new applications in the marine and offshore sectors.

Production line for electromobility
In December 2018, the Italian drive specialist opened its new environmentally friendly production line for electromobility in Forlì, Italy, covering an area of around 10,000 square meters. The new production line, which is dedicated exclusively to the manufacture of electric axles for drivetrains and wheel drives of various sizes, is Industry 4.0-compatible and designed with a high degree of flexibility, allowing up to 25,000 units per year to be produced in various sizes.

"This expansion gives us the opportunity to better support our customers with innovative solutions for electric and hybrid industrial and commercial vehicles," explains Marco Cesari, General Manager of the Mobility & Wind Industries Business Unit.

Production plant in India
Forever Forward, the motto of the Italian family-owned company, also led to the opening of a new production plant in Chennai, India, in the past financial year. The new 140,000 square meter facility was built next to the existing plant and is equipped with modern assembly lines, a global research and development center and test laboratories.

With an annual capacity of 75,000 units, Bonfiglioli can easily serve all existing and new markets and customers in the off-highway, construction, mining, agriculture and material handling sectors at the new plant. as