Major Finnish machinery manufacturing companies have expressed their benefit from China's economic development

by:Gewinn     2022-04-24
According to a report from Finland, the situation of the Finnish machinery manufacturing industry was bleak in 2009. The five major Finnish machinery manufacturing companies, such as KONE, Wärtsilä, Metso, Cargotec and Konecranes, saw a sharp drop in the total global orders by 24%, and their sales in Europe fell by 24%. A sharp drop of 15%, the total global order book in early 2010 was 4.5 billion euros lower than the same period in 2009. Although these companies performed poorly, they performed well in the Chinese market, and they all said they benefited from China's economic development. The report believes that with the support of the Chinese government's 4 trillion yuan economic stimulus plan, China's economy continues to grow, benefiting Finnish manufacturing. China's economic development has increased demand for Cargotec container handling machinery, Konecranes cranes and papermaking equipment, and KONE Elevator has also benefited from the accelerated development of infrastructure and housing construction in China. KONE's 2010 global orders totaled 3.3 billion euros, down 8% year-on-year, but its business in China in the fourth quarter of 2009 was gratifying and continued to consolidate its market position in China. Wärtsilä's total global orders in 2010 amounted to 4.5 billion euros, down 35% year-on-year, but it believes that the world's shipbuilding industry center will continue to shift to Asia, especially China, and is full of confidence in the prospects of the Chinese market. Metso's 2010 orders totaled EUR 3.4 billion, down 16% year-on-year, but it has secured several large orders last year and is about to start supplying Zhanjiang Chenming Paper Co., Ltd. with the world's largest paper production line. Cargotec's order book in 2010 was 2.1 billion euros, down 30% year-on-year, but it believes that the Asia-Pacific region has become the most active market for container lifting equipment. Konecranes Crane's orders in 2010 were 610 million euros, a year-on-year decrease of 27%. The company said that although its global market shrank by more than half in 2009, the Chinese market was the only one that stood out. The Finnish machinery manufacturing industry employs about 60,000 people and has a total turnover of 24 billion euros, of which the turnover of the above five companies is 19 billion euros.
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