Seco/Warwick expects that the share of orders from the US in its order book will continue to grow due to the remodeling of businesses and the transfer of production of companies to their own country, Sławomir Woźniak, CEO of Seco/Warwick, informed ISBnews. In the area of investments, the company does not anticipate large expenditures, but it is analyzing a stronger diversification of production with India. “Our results support current macroeconomic trends that have changed the way customers view supply chains. Primarily in the USA, e.g. in the area of titanium processing. In connection with the experience of the pandemic, the war in Ukraine and the tense situation between the US and China, producers in the US want to secure the acquisition of titanium for the production of, among others, in aviation and this makes us win more and more orders from the USA of North America. Such reshoring, i.e. moving production back to Western European countries and the USA, is of great importance to us,” said Woźniak in an interview with ISBnews. “Another direction supporting our results is electromobility - the Chinese subsidiary sells equipment for the production of heat exchangers to markets around the world. Electromobility is a very strong trend and despite the crisis, this direction is not changing. Currently, a noticeable part of our margin thanks to this trend comes from China,” he added. Seco/Warwick is one of the world's largest manufacturers of metal heat treatment furnaces. The main markets in which the recipients of its products operate include the automotive, aviation, energy, machinery, tooling and aluminum metallurgy industries. The company has been listed on the Warsaw Stock Exchange since 2007. Its consolidated sales revenues reached PLN 463 million in 2021. Source
25.11.2022