German machine tool manufacturers enjoy a very good reputation when it comes to specialised solutions for sophisticated applications in the automotive industry and its component suppliers, in the mechanical engineering sector and the electronics industry, explains VDW CEO Dr. Wilfried Schäfer at the press conference in Vienna. The exchange with our neighbors has a long tradition. The good relations of both countries are reflected by the fact that today many Austrian mechanical engineering companies have branches in Germany and vice versa.

With a volume of EUR 818 million euros, Austria ranked 10 ^th among the world's largest producers of machine tools in 2016. The country exports more than 70 percent of its production output and ranks 11 ^th among the world's largest exporters. Besides the USA, China, Italy and Russia, Germany is one of the most important markets for Austrian industry. However, according to VDW’s global statistics, exports fell by 12 per cent.

After a strong performance in 2016, Oxford Economics predicts a GDP growth of the eight most important customers of machine tools for 2017 by 1 percent. They are mainly used in machinery and vehicles because the financing conditions remain favorable. This also drives machine tool consumption further upwards. Oxford Economics expects 2.2 percent for the current year, but after 11 percent over the past year. The automotive industry, precision mechanics and optics, as well as the aerospace industry, will therefore invest disproportionately.

Foto:VDW
Persons left to right: Thomas Gindele (Managing Director of DHK), Sabine Steinkellner (Marketing WFL Millturn Technologies GmbH & Co. KG), Dr. Wilfried Schäfer (Executive Director VDW (German Machine Tool Builders’ Association)), Dr. Wolfram von Fritsch (Chairman of the Managing Board of Deutsche Messe AG) (from left).