Igus
Sales down, incoming orders almost stable
Igus reports mixed signals due to coronavirus: while incoming orders remained almost stable in the first four months, turnover fell by 11%. The company showed solidarity in the face of the pandemic.
Declining turnover but almost stable incoming orders - this was reported by Igus at its virtual annual press conference at the beginning of May. In 2019, the company was able to increase its turnover by 2% to €764 million despite a difficult economic environment. However, the current coronavirus crisis has exacerbated the general conditions: turnover fell by 11% in the first four months of the year compared to the same period last year. Incoming orders are almost stable and are currently only down 2%.
At the moment, incoming orders are 2% down on the same period last year and sales are around 11% lower. What will happen next? Blase quotes Bank of America: According to them, sales comparable to 2019 will not be achieved until the end of next year @igus_HQ pic.twitter.com/9mDBYIXVCK
- SCOPE (@ScopeOnline) May 6, 2020
"We are currently receiving a lot of inquiries and arranging numerous virtual visits," explains Managing Director Frank Blase. "Customer interest in solutions that improve technology and reduce costs is growing noticeably."
And Igus has developed and launched a number of new products to support its customers. In its virtual press conference, igus cites a manufacturer of packaging machines as an example: two toast loaves had to be cut, packaged and sealed per second. Until now, one weak point was the moving cable for the fast loading of the machine. In search of a solution, even before the current coronavirus situation, the company found the chainflex service life calculator for dynamic cables on the Internet - and thus the perfect product for its highly dynamic application. With the addition of intelligent smart plastics monitoring of this cable, it achieved its goal: the availability of the system in 24/7 continuous operation, predictable cable replacement every 18 months and thus high cost savings.
Igus presents its innovations in a virtual press conference. Experts explain new functions on the product and provide insights into application industries, here it's about cable monitoring in the food industry #virtualtour #toastbrot #trailingcable @igus_HQ pic.twitter.com/YFL2OGiyev
- SCOPE (@ScopeOnline) May 6, 2020
Solidarity in times of Corona
Maintaining a fast and reliable supply of tribopolymer products in the current situation is an important goal for igus. "Igus is currently delivering without any restrictions," says Managing Director Frank Blase. "On average, small and medium-sized orders are on their way to the customer after 2.5 days." Local supply worldwide is ensured by 14 production sites.
In order to maintain its ability to operate in production and delivery, Igus implemented over 100 measures at the main site alone - from the construction of five new canteens to a hardship allowance for production employees. In addition, the plastics specialist produces headbands for face shields using an injection molding process from recycled iglidur A200. This enables cost-effective mass production. The first 100,000 headbands are available free of charge for medical facilities, after which they will be sold at cost price. A special production of 140,000 complete face shields is also currently underway, which will be given to all schoolchildren in Cologne - a fundraising campaign for the hometown.
Igus first produced the mask tapes additively, then an injection mold was built. The company is now donating these protective masks to pupils and teachers in the city of Cologne #supportyourindustry #Corona crisis @igus_HQ pic.twitter.com/0ddxAFAPvI
- SCOPE (@ScopeOnline) May 6, 2020
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