Saurer Group, one of the leading globally operating technology groups focusing on machinery and components for yarn processing, has observed an excellent growth in revenue by 37% to CNY 8’713 million in 2017, said an official release. At the same time, it has observed strong earnings generation with profits before tax of CNY 996 million, outstanding performance in key markets China and Turkey with the growth of 70% and successful listing in Q3 2017 on the Shanghai Stock Exchange.
Quoting Mr. Clement Woon, Chief Executive Officer, the release said, “2017 was a year of substantial growth for Saurer as the Group continued to benefit from strong demand for all textile solutions and components. Saurer has successfully strengthened its position as the globally leading integrated textile equipment supplier, offering a suite of solutions from bale to yarn.”
“In its rich 165-year history, time and again, Saurer has proven that it is able to drive innovation and has been able to post the best results of the last five years. We were particularly successful in China and Turkey, with growth rates of 70% in both countries. In addition, within three years, Uzbekistan has become the fourth-largest market for Saurer, posting over CNY 500 million in sales,” he added.
He also pointed out that 2017 was a year of profound change for the company, and we have made remarkable progress in further aligning our business to the needs of our customers, advancing technologically and developing our management. As an enlisted subsidiary of the Jinsheng Group, Saurer is in a very favorable position to profit from unprecedented economic opportunities across these markets, including in China with its vision of the textile industry as well as the ‘One Belt, One Road’, ‘Industry 4.0’ and ‘Made in China’ initiatives.
