European machine tool manufacturers take advantage of the devaluation of the euro to increase orders

It is understood that recently, European machine tool manufacturers have used the opportunity of the devaluation of the euro to increase orders in the international market, and the competition of Japanese and European machine tools has intensified. In order to compete with European companies, large Japanese machine tool manufacturers have stepped up production efficiency, substantially updated production equipment, and increased production workshops. Japan's major machine tool manufacturer Tsugami Precision Machine Tool Co., Ltd. plans to invest 1 billion yen in February to upgrade basic production equipment, increase production capacity by 2 times, and double the area of u200bu200bNiigata factory from the current 6,400 square meters to improve machine tool assembly efficiency . Another large machine tool manufacturer, OKUMA, plans to invest 7 billion yen to build a new workshop with brand-new equipment at its main plant in Aichi Prefecture to further improve production efficiency. Mori Seiki Co., Ltd. invested 8 billion yen to build a machine tool parts processing and assembly plant in Mie Prefecture, which will start operation in February and is expected to increase production capacity by 20%. It is reported that the total amount of domestic and foreign orders received by Japanese machine tools last year was 1,326.1 billion yen, a year-on-year increase of 35.5%, of which overseas orders accounted for 8.2%, with an amount of 904.5 billion yen, an increase of 34.8% year-on-year, a record high after 4 years. In terms of countries, the order value from China is the largest, with a value of 327.8 billion yen, a year-on-year increase of 29.6%, followed by India and Thailand, and orders from Asia accounted for 56% of overseas orders.