Haaksbergen, The Netherlands – VMI’s parent group TKH has indicated significant business growth at the Dutch tire and rubber machinery maker during the first quarter.
In a recent trading update, Alexander van der Lof, CEO of the technology group, linked a strong first quarter for TKH to growth in a several vertical markets, including tire-building.
“The order intake increased further in all segments, with which we have a good starting position for the coming quarters," van der Lof commented in the 3 May statement.
VMI is part of the Dutch group’s ‘manufacturing systems’ unit, which – with -connectivity systems’ is one of two sub-segments within TKH’s Industrial Solutions division.
For the first quarter, Industrial Solutions posted ‘organic turnover growth’ of 11.6% year-on-year to €183.8 million.
Growth was seen in both sub-segments, and “the increase in ‘manufacturing systems’ [sales] was the result of higher turnover for tire building systems,” TKH reported.
“The share of the ‘top five’ tire manufacturers in the order intake continued to increase,” VMI’s parent group also stated.