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The LMT Group continued to grow during the 2012 business year so that as a whole, including its subsidiaries Fette Compacting and LMT Tools, it achieved a total turnover of 325.8 million euros. Among other places, the Group
anticipates further growth in the Asian region, where LMT Tools has expanded its production capacities with a new plant in Pune, India.
“Developing our global production network and strengthening international cooperation are the central tasks of the future,” says Olaf J. Müller, Chairman of the LMT Group, describing the future strategic direction. “Today we already achieve 77% of our sales outside Germany. Development in growth markets will lead to a further increase. In addition, we wish to expand our foreign subsidiaries’ share of value added.”
New plant opened in Pune
One milestone along this path is the production plant in Pune, India, that opened at the beginning of September. LMT Tools is producing tools for the automobile and commercial vehicle industry on over 6,000 square metres of space in one of the country’s most modern factories. “With the new plant we have more than doubled our local production capacity and can now serve our customers on the spot faster and better. That represents a major advance in our internationalization strategy, with which we aim to make our innovations rapidly available worldwide,” says LMT Tools Managing Director Matthias Rommel, underlining the importance of the new production facility. “This is demonstrated, among other things, by the fact that we can now produce hobs for gearwheel production in Pune that we have previously only been able to produce in Schwarzenbek. There, as a result, we have been able to gain additional capacity.”
Investment in the Schwarzenbek site
Investments are also planned at Schwarzenbek. The LMT Group intends to invest over 10 million euros at the site over the next three years in a new inspection and distribution center for tablet presses as well as new
premises for the development departments of Fette Compacting and LMT Tools.
Increased turnover in the 2012 business year
Business development is supporting the planned investment and internationalization strategy. In the 2012 business year the LMT Group achieved a turnover of 325.8 million euros. That represents an increase of 12% compared to 2011. In all, almost 1,900 people were employed by the LMT Group and its divisions in 2012 – including 1,226 in Germany.
“Today, the LMT Group has progressed further down the path from an exporting business to a globally producing and cooperating enterprise than many other firms,” says Olaf J. Müller about the current situation.“Through our investments we are clearly signalling our commitment to Germany, which will continue to play a central role in our global network. At the same time, we are strengthening our international subsidiaries, because we are only just beginning to develop the potential of our international network.”
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