Igus finishes record year, looks for more growth

Following a record-breaking year, igus Inc., East Providence, R.I., says it plans to continue is growth trend by offering new product lines and expanding into new overseas markets.

Despite difficult market conditions in 2012, igus increased turnover by 5% and finished the year on a record high. For 2013, the manufacturer expects to continue organic growth, as it plans to create new product divisions; expand its existing lines of cable carriers, continuous-flex cables, linear bearings and linear guides, plastic bushings, and spherical bearings; and focus on global logistics and production.

In 2012, igus supplied products to more than 175,000 customers all over the world. The company saw extremely high growth of its ReadyChain division, which manufactures pre-harnessed Energy Chains and continuous-flex Chainflex cables. It manufactured around 341,000 pre-harnessed cable systems world-wide last year. In addition, igus is expecting additional growth from new product groups including semi-finished goods, ball bearings, spindle drives, electric actuators, and on-site assembly programs. Each product is now developed and marketed in separate business divisions with additional staff, space and production facilities.

The number of employees increased last year to a total of 2,175, a 7% increase.

According to Joseph Ciringione, National Sales Manager, Energy Chain Systems, the company’s people are one of the main reasons why growth continues at igus despite challenging conditions. “Our technical sales staff are educators, not salesmen/woman. We sell education and we ship plastic parts. Educating industry experts, designers, engineers, etc., about our products and services is the key to leaving a lasting impression about our capabilities with customers and potential customers,” Ciringione said. “Simply put, we are solution providers with the goal of helping companies to save costs, introducing them to plastic technologies that extend the life of their equipment/products.”

The company will continue to focus on research and development, seeing that as driver for future growth. One new innovation is its “motion plastics,” with new products including a new generation of micro-chains for tiny and light-weight energy supply applications. It is 30% quieter and 100% more stable for larger unsupported travel lengths.

As recently noted, igus tests all of its products every year, with up to two billion test cycles carried out each year on its cables alone. Ongoing development is important in the field of plain bearings, too. The company conducted14,000 tests in the tribo-polymer development laboratory. Last year alone, 200 million plain bearings from igus were fitted in passenger cars.

Ciringione added, “With an upward trend in automation, igus is a natural fit. We provide the perfect complimentary products for all types of automated equipment. I think that companies with antiquated equipment are looking for modern automated solutions. This is where igus excels.”

Finally, igus is making major investments into production and logistics all over the world. This year, the company has already moved into new facilities in South Korea and Brazil, as those subsidiaries are seeing the same growth for the same reasons.

igus inc.
www.igus.com