German machine tool builders expect a 30% increase in 2011

The German machine tool industry is expected to achieve a 30% increase in production in 2011. “It is expected to return to the level of about 13 billion euros, we will completely get rid of all the adverse effects of the financial crisis, and now some aspects even exceed our expectations,” said Martin Kapp, president of the German Machine Tool Manufacturers Association VDW.

From the end of 2009, on a quarterly basis, the number of orders in the machine tool industry achieved double-digit growth, mainly due to the strong pull of China, South Korea and India. The three countries quickly got rid of the impact of the global financial crisis and returned to the growth track, thus helping the German machine tool industry to recover quickly. At the same time, overseas demand has also recovered in large areas. “The German machine tool industry enjoys a high reputation in the world, and two-thirds of its products are exported, which is derived from Germany’s technological leadership in the international market,” said Martin Kapp. Later, the economic recovery momentum also extended to domestic demand.