FRANKFURT, GERMANY – According to the German Engineering Federation (VDMA), the German Machine Tool Builders’ Assn., (VDW) said the German machine tool industry has gotten off to a strong start in 2007. The VDW has revised its production forecast for the year, marking it up to a growth figure of 10% from the previously anticipated growth rate of 7%. In the first quarter of 2007, incoming orders rose by 40% in the German machine tool building sector. Domestic orders grew 32%, while international orders rose 45%
“Right now everything is exactly how it should be,” said Helmut von Monschaw, executive director of the VDW. “International demand for machine tools is at a record level. And, across the board, German customers are also investing in new manufacturing technology. The last time our industry registered double-figure growth in production was in 2001.”
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