Germany-based plantmaker SMS Group has announced that it has attracted an order intake in the business year 2010 totaling €2.931 billion and generated sales of €3.036 billion. The net income for the group, at €262 million, was €39 million higher than the figure in the previous year.
The market for metallurgical plants and rolling mill technology bounced back noticeably in 2010. With the crisis now overcome, the number of projects open for bidding has increased.
While customers in the industrialized countries are mainly focusing on revamps and business with new plants is still slow, the situation in the emerging economies is different. There is a strong demand for metallurgical plants above all in India, China, Brazil, and in the smaller Asian and South American countries.
Principally, SMS Group expects further growth in India, China, South America, and the Middle East. Per-capita steel consumption in these regions is still relatively low. However, the unresolved debt crisis in Europe and the USA, political instability in the Middle East, and the high volatility of prices for raw materials all create uncertainty about further growth in these markets.
Dr. Heinrich Weiss, chairman and CEO of SMS Group, said that benefiting from the general trend they have increased investments and upgraded their manufacturing capacities.