Grenzebach Group reported what it calls better-than-expected growth in 2022. The Hamlar, Germany, -based company announced income orders grew 71% in 2022, planning exceeded expectations by 64% and growth continued in Asia, Europe and the U.S.
CEO Steven Althaus states the company’s success stems from investments in technology and partnerships.
“Grenzebach is showing signs of continued growth,” he says. “We are proud to have surpassed the record in incoming orders, especially under framework conditions such as Covid, the Ukraine crisis and delivery bottlenecks. The successes of the past financial years show that our strategic global orientation and investments in key technologies and strong partnerships have paid off. Our expertise and proximity to the customer are crucial to our success.”
Growth Hits Record Numbers
Grenzebach’s order intake hit $650 million*, the highest order intake in company history. The company’s turnover was 14% higher than in 2021 at $397 million*. Growth also continued in the photovoltaic sector, says Althaus. The sector grew by 29% in 2022. He adds Grenzebach expanded its energy-efficient product lines and improved glass quality this past year.
The company also invested $10 million* in research and development in 2022. Officials see potential in energy efficiency in production processes, circular economy and renewable energies, says Althaus.
Additionally, Grenzebach has taken another step toward regionalization in Europe. The production capacities in Iasi, Romania, which has belonged to the Grenzebach Group since 2019, have doubled. The expansion officially started in 2022 with a groundbreaking ceremony.
Completion is planned for autumn 2023. Around 100 new jobs will be created in manufacturing and engineering.
*Financial data converted from EUR to USD