Posted September 8, 2014

 

COLZATE, Bergamo, Italy – Itema, a global provider of advanced weaving solutions, announced that financial results for the first half of 2014 exceeded expectations.

 

Despite the severe decline in global weaving machine demand, Itema sold 12 more weaving machines in the first six months of this year compared to same period last year, increasing the group turnover by 10 percent year over year.

 

"The first half of this year produced some rather positive and encouraging results," said Carlo Rogora, CEO of Itema. "Our progress continues on from the boost in 2013 (+50 percent vs. 2012). This result is, for us, even more remarkable considering that the global weaving machine market declined significantly since Q4 2013, a fact also confirmed by statements from other industry players.”

 

The highest improvement in performance comes from the Indian subcontinent, in particular from Itema India after the major turnaround actions implemented in the first quarter of this year. Less satisfactory results so far come from China and from airjet weaving machine sales, both due mainly to a significant slowdown in the Chinese weaving machine market, the company said.

 

In March, Itema renewed the existing company’s presence and investment in China with the grand opening of Itema China in a highly efficient and modern establishment in Shanghai. Furthermore, Itema launched two new avant-garde airjet models (the A9500p and the A9500e) and two new rapier weaving machine models (R880DT and R9000) at ITMA ASIA 2014 in Shanghai.

 

The rapier R9500 model continues to earn accolades worldwide, the company said. Launched less than two years ago, the weaving machine reaches a new pinnacle of success, achieving 50 percent of all Itema weaving machines sales – compared to 30 percent in 2013 –and establishing itself as the all-time best seller.

 

An impressive comeback this year is the Spare Parts Business, the company said. “We are particularly pleased by the turnaround performance of our Spare Parts Business Unit (created a year ago), which managed – for the first time in 10 years – to reverse the trend of declining original manufacturer spare parts market," Rogora said.

 

The company is on track in its implementation of Lean Manufacturing across Itema’s manufacturing and assembly lines, with a major focus on the main manufacturing site in Italy, driving up productivity by an additional 15 percent with limited additional resources and investments, it reported.