Germany-based plantmaker SMS Group has announced that its order intake in 2010 has recovered well following the downturn in 2009 and is expected to reach €3.4 billion in 2011.
SMS Group stated that, due to the debt crisis in Europe and "the risk of it spreading to the global financial system," customers in developing countries and emerging economies, as well as ones in established industrialized countries, are acting cautiously when placing orders.
On the other hand, since orders in hand have increased, the capacities of the SMS Group companies are fully booked.
According to the company statement, its investments are also continuing as planned. SMS Meer is investing €60 million in its Mönchengladbach location to replace 75 percent of all its existing machine tools, while SMS Siemag is investing €20 million for the construction of a workshop near Shanghai, scheduled for completion in early 2012.