Home / Knowledge / News / Textiles / Textile machinery sales plunge in 2008
Textile machinery sales plunge in 2008
07
Mar '09
Preliminary year-end 2008 figures for Italy's textile machinery industry register a 18% drop in production compared to the previous year, with a total production value estimated at 2,285 billion Euros. This decline affects both Italy's domestic market and export sales.

Exports fell from 2,151 billion Euros in 2007 to 1,782 billion Euros for 2008. Manufacturing companies in the world's primary markets, which include China, India and Turkey, are currently not investing. There are very few countries in which Italian exports recorded an increase in sales for 2008 (i.e. Brazil and Russia). Italy's domestic market also witnessed a 20% fall in demand for new machinery on an annual basis.

Total orders, compiled semi-annually by ACIMIT (Association of Italian Textile Machinery Manufacturers), effectively confirm the current difficulties facing Italian companies. During 2008 second half, the order index (2000 = 100 basis) reached only 28.4 points, a 52% drop compared to the same six-month period in 2007, and the already serious situation faced by machinery producers in Italy during the course of 2008 has been further exacerbated in this initial part of 2009. In fact, no reversal of this trend is foreseen for the first half of 2009.

The primary element worrying the industry regards access to credit. “A recent study conducted by ACIMIT, explains ACIMIT President, Paolo Banfi, shows that the most critical issues facing its members relate to the current credit crunch, with an increase in the spread requested by banks on credit to businesses, and a demand for greater guarantees in providing credit lines.”

Awaiting new developments, ACIMIT continues to support machinery manufacturers with a promotional plan, implemented in partnership with the Ministry for Economic Development and the Italian Institute for Foreign Trade, comprising around 25 different initiatives for 2009 (technology symposiums, participation at trade fair events, training courses in Italy and abroad). These activities involve about ten countries/markets overall, singled out among potentially most promising ones.

“The main objective of our requests, states Banfi, is to get through the current crisis with the entire industry – suppliers, machinery producers, customers – becoming more competitive, and without losing our capital of know-how, both in terms of technology and human resources, which has thus far contributed so significantly to the success of the textile machinery sector and of our “Made in Italy” throughout the world.”

For more detail click here.

ACIMIT


Must ReadView All

Chinese firm sets up textile-garment chain in Vietnam

Apparel/Garments | On 13th Dec 2017

Chinese firm sets up textile-garment chain in Vietnam

Worldon Vietnam Co. Ltd under the Chinese Shenzhou Group is likely to ...

Courtesy: SATO Global Solutions

Information Technology | On 13th Dec 2017

Sensor networks improve inventory management

Sensor networks like radio frequency identification (RFID) and smart...

CMAI hails review of FTP as 'progressive package'

Apparel/Garments | On 13th Dec 2017

CMAI hails review of FTP as 'progressive package'

The Clothing Manufacturers' Association of India (CMAI) has hailed...

Interviews View All

Rashi Menda
Zapyle

Every fifth sale we make on Zapyle is a repeat purchase

DK Sharma
Velocity Apparelz

We constantly communicate with employees at all levels

Pratik Bachkaniwala
Palod Himson Machines

Fabric processing machines are picking up

Hardik Sanghvi

Idealin Fogging Systems has been engaged in designing and manufacturing...

Urmil Arya

Sushila International, a well established textile organisation established ...

Vikas Banduke

Softech Controls Private Limited (SCPL) is a part of the Cotmac Group, an...

Paolo Ocleppo
Sandvik Hyperion

Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion discusses...

Marten Alkhagen
Swerea IVF AB

Marten Alkhagen, Senior Scientist - Nonwoven and Technical Textiles of...

Kevin Nelson
TissueGen

Kevin Nelson, Chief Scientific Officer, TissueGen discusses the growing...

Bani Batra

Bani Batra’s couture wedding collection is inspired by traditional Indian...

Sidharth Sinha
Sidharth Sinha

<b>Sidharth Sinha</b> has contributed to the successful rebirth and...

Anisha Chaudhari
Threads & Shirts

Threads &amp; Shirts is a freshly-tailored concept providing men/women a...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

December 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
69.6%
No
12.0%
Skip
18.5%

Total Votes: 92

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
62.0%
No
30.4%
Skip
7.6%

Total Votes: 92

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
87.0%
No
9.8%
Skip
3.3%

Total Votes: 92

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
81.5%
No
8.7%
Skip
9.8%

Total Votes: 92


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search