April 27, 2017 – According to Recaro Aircraft Seating, last year the seat manufacturer increased its sales by almost 11% to €452 million (US$491m). Money is not the only cause for celebration at Recaro, as the company recorded a delivery volume of more than 100,000 seats for the first time, with cose to one-third of the products sold in 2016 being new products.
“Over the past 10 years, Recaro has grown organically by almost 10% per year, making it one of the fastest growing companies in our industry. With innovative products, new service concepts, a growing customer base and many new orders, we were able to build on our success last year and establish a strong platform for capacity and workforce expansion,” stated Dr Mark Hiller, CEO and shareholder, Recaro Aircraft Seating.
“In 2018, we will exceed the €500 million mark,” Hiller continued. “This strong growth is only possible thanks to our employees’ exceptional dedication, as well as their close identification with both the company and the Recaro brand.”
A significant investment program in the “high double-digit million” range is being made to address strong market demand for seating. At the end of 2017, a new 6,000 m² logistics center will be opened at the company’s headquarters in Schwaebisch Hall, Germany where €13.5 million is being invested.
At the company’s newest production site in Qingdao, China, 10,000 seats were produced in 2016 – twice as many as in the previous year. For 2017, a further doubling to 20,000 seats is planned, and have already been secured by order volume. Due to these positive developments at the Chinese location, plans are now being made for further expansion in the coming years.
“In spite of global market dynamics, we anticipate stable development and a continued successful growth trend,” added Hiller.
