Germany-based plantmaker SMS Group has announced that, after a collapse in 2009, its order intake has rallied in 2010 and looks likely to reach €2.8-2.9 billion, adding, however, that the level is still way below the target of €3.5 billion.
The company said that sales of the SMS Group in 2010 will total some €3.1 billion as compared to €3.9 billion in 2009.
Summarizing the market situation, SMS Group said, "While the old industrialized countries are not yet investing in new plants, but focusing on revamps, the emerging economies are resuming their drive for industrialization as more and more of them overcome the credit crunch. Above all India and Brazil, as well as smaller Asian, South American, and Middle Eastern countries are ordering new metallurgical plants. In China, project activity is lower because the country built up huge capacities in recent years."
As SteelOrbis previously reported, SMS Group's orders in 2009 declined by 55.73 percent year on year to €2.34 billion. However, due to the processing of orders still in hand from the boom years, the group's sales increased by 8.05 percent to €3.89 billion, while its profit before tax amounted to €234 million, up from €205 million in 2008.