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Itema inks double digit volume growth in 2014
26
Feb '15
Advanced weaving technologies provider, Itema has inked a double digit sales volume growth in 2014, despite what it calls recession in the global weaving machine market.

“Following from the 12 per cent rise in machine sales by volumes in the first half of 2014, the Group closed the year with sales of above 10 per cent year on year,” ITEMA said in a press release.

“Our company grew by some 60 per cent in the past two years in a market that declined, according to our estimates, by around 30 per cent over the same period,” said Carlo Rogora, Itema CEO.

He added, “I believe this remarkable achievement is further proof that we are on the right path with renewed confidence, stronger-than-ever company set-up and highest acclaimed product portfolio.”

Itema’s operations in the Indian Subcontinent delivered the biggest comeback with a turnaround year and more than 100 per cent year over year growth in volumes just from India alone.

The Spare Parts Business division closed on a positive note and posted a 5 per cent growth, reversing a 10-year negative trend to-date.

Due to good volumes, prices in line with expectations, as well as actions to reduce variable and fixed costs, profit before taxes from operations in 2014 rose steeply by 20 per cent from a year ago period.

According to Itema, implementation of ‘Lean Manufacturing’ is producing sensible results in terms of workforce efficiency, reliability and net working capital reduction.

The Company has successfully managed to boost productivity, as a result of process improvements, as well as around €5 million in investment in automation equipment in 2014.

Itema said its rapier R9500 model has affirmed itself as the most innovative rapier loom on the worldwide market today and represents half of Itema’s revenues from weaving machines.

“At Itema, we push boundaries and drive the evolution of weaving machines. At ItemaLab, the unit dedicated to R&D, is working tirelessly on the loom of the future,” Rogora added.

“In the meantime, we are continuing to offer innovative weaving solutions and are looking forward to displaying our capabilities at ITMA in Milan later this year,” the CEO observed.

“Itema closed 2014 with the highest backorder for the last 5 years; however, given the persisting instability in the global macroeconomic and political conditions, our outlook for 2015 remains cautious,” it informed. (AR)

Fibre2fashion News Desk - India

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