page 1 of 2 2007.04.23

Italian Textile Machinery Is Recovering

Acimit, Italy’s association of textile machinery manufacturers, has published the results of an economic-financial study on textile machinery companies. On the same day, it released preliminary industry figures for 2006.
The value of Italy’s textile machinery manufacturing has grown by 4% since 2005, now worth 2.65 billion euro. A similar increase was also seen in sector exports, where the 2.1 billion euro value was 3% greater than 2005 exports. Compared to past years, sector growth marks a turnaround in the trend. The domestic market has shown clear signs of recovery, confirmed by the rise in the number of sales by Italian companies on its home turf (+9%).
The preliminary economic figures are taken from an index of orders that Acimit reviews on a half-yearly basis. In the second half year 2006, the overall index was 53.2 points, a 7% increase on the previous half year. The increase in orders received appears especially significant in Italy (+33%). As far as exports are concerned, figures confirm the strength of the primary Asian markets (China and India). These two countries are the leading destinations for Italian goods, and account for 30% of the sector’s exports. The year was also marked by an overall increase in sales on some minor markets (Latin America and Africa).
The new figures confirm that the Italian textile machinery industry is an outstanding element of the nation’s instrumental mechanics system, and it is one of the top players on a global scale.
Italy is the second largest exporter in the world, ahead of nations with well-established traditions in textile machinery like Japan and Switzerland.
“It is clear” Paolo Banfi, President of Acimit, said, “that these preliminary figures have to be confirmed by final results, and they should mark the beginning of a growth trend that will have to be consolidated this year and in the future. Only then can we consider the industry restructured and we can be more optimistic about the future.”
“Today” Banfi continued, “it is, nonetheless, premature to consider the transformation stage complete. I sense some concern when I hear industry professionals talking about the near future. Companies often operate on a day-by-day basis, and many find it hard to define a medium-term strategy.”