Kgel posts record 67% growth for 2007
Apr 1, 2008 12:00 PM
Trailer manufacturer Kögel Fahrzeugwerke GmbH announced growth of 67% — the most successful financial year in the company's history — for the 2007 financial year.
Headquartered in Burtenbach, Bavaria, the company boosted production from 12,000 units in 2006 to 20,000 units in 2007. The turnover reached the record mark of US $708.3 million. One year previously, Kögel had recorded a turnover of US 429.3 million.
The number of employees also increased from 900 to 1,352 employees working in the factories in Burtenbach and Chocen in the Czech Republic.
“2007 has far exceeded our expectations”, said Alexander Tietje, chairman of the Kögel board of management. “The above-average conditions prevailing throughout the market have undoubtedly helped us here.”
The firm also recorded good rates of growth in northern Europe, where the company only started up in 2006 with a trailer point in Padborg in Denmark. Furthermore, since autumn 2007 a new partner in the form of the Finnish upper body manufacturer, Ekeri, has taken on the marketing of Kögel vehicles in Sweden, Finland and Norway.
Kögel also improved its position significantly in Germany. In the domestic market, the manufacturer sold 1110 units more than in the year before, thus improving its results by around 30 percent. As a result, Kögel was able to report the strongest growth of all the major German trailer manufacturers.
The company is setting up a new factory in Stargard Szcecinski, near Stettin in north Poland, close to the German/Polish border, with an annual capacity of 5,000 units. Furthermore, in the course of the year Kögel will be investing in its main factory in Burtenbach, in order to boost production there by about another 25 percent. A significant expansion in capacity is also planned for the production site at Chocen in the Czech Republic.
This year, the company expects to increase production by around 60 percent to 32,000 units.
