ITALY: Controls and humidification equipment manufacturer Carel has recorded sales of €203.5m in 2015, a 12.8% increase on the previous year.
Growth is said to have been driven by the United States and Europe, as well as by good performance on Asian markets.
In order to propel growth, Carel invested 7% of sales in new product research and development last year. The number of staff in the R&D department in 2015 was 183 people, up from 175 in 2014, and accounting for 17% of total personnel spread between Italy, the United States and China.
International expansion continued with the opening of two new commercial subsidiaries in Thailand and Mexico, while production commenced at the new plant in Labin, Croatia, employing around 40 workers.
“The results of the 2015 financial year confirm the success of our strategy aimed at both introducing technological innovation for high efficiency and sustainability, and expanding our manufacturing and sales operations worldwide,” commented Francesco Nalini, Carel Group managing director.