Keeping an even keel
HOERBIGER is a technology and market leader worldwide for performance-defining components, systems, and services for reciprocating compressors, gas-fueled engines, and turbines. Lower investment related to shale oil and gas as a result of the low price of oil, especially in North America, turned 2015 into a year filled with major challenges for the Compression Technology Strategic Business Unit.
On the one hand, internal adjustments were needed at HOERBIGER in light of the changed market environment. On the other hand, it was important to seize the growth opportunities of the Safety Solutions Business Segment, despite a more difficult environment, and expedite the Segment’s further expansion in the forward-looking safety technology growth market.
Reporting sales of 640.8 million euros, in 2015 the Compression Technology Strategic Business Unit was able to achieve slight growth of 3.5 percent over comparable sales of 619.1 million euros in the previous year. This result is thanks to the added sales volume from the Valve Automation Business Segment, the acquisition of IEP Technologies, LLC, and positive currency exchange rate effects.
At 47.5 percent, almost half of the Business Unit’s sales volume comes from the OEM Division, which supplies components and systems directly to compressor and engine manufacturers, companies engaged in plant engineering, and customers in the refrigeration and automotive industries.
At 52.5 percent, the Service Division is the second strong pillar in the Compression Technology Strategic Business Unit.