mG miniGears Reports Sales Surpassing 70 Million Euros
February 2, 2007—Worldwide sales of mG miniGears rose by 7.6% to 73.9 million euros, surpassing the 70 million euro mark for the first time.
According to the company's press release,with an increase of 16.2% the growth in sales of loose gears made of cut metal and powder metal, primarily for the hand power tool and automotive markets, was particularly strong. Sales for the gardening segment improved by 3.7%, whereas the fork lift market segment reached again the already high previous year's level.
Europe remained the strongest region, contributing 59% to sales, followed by North America with 28%, the Far East region with 11% and Latin America with 2%.
"Demand in all segments for the next months is above the level of the same period last year" states Alexander Bossard, miniGears' CEO, "and I expect miniGears to reach the 80 million euro mark this year."
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