The Plansee Group has reportedly achieved sales revenue of €1.52 billion in 2018, a 17% year-over-year increase over 2017’s figures of €1.3 billion.

Regionally, 53% of revenue came from Europe, 25% from the USA, and 22% from Asia. Drill manufacturer Komet, acquired in 2017 contributed one third to the increased sales, while total sales volume rose by 7%.

According to members of the company’s executive board Bernhard Schretter and Karlheinz Wex, the Plansee Group is in ‘excellent shape, debt-free and equipped for economic fluctuations as well as additional development steps’.

Plansee Group has also reportedly taken further steps to safeguard its raw material supply of tungsten in the long run by its acquisition of Stadler Metalle, a German company which specializes in the trade and processing of hard metals. The acquisition is expected to increase the recycling rate of tungsten in the Plansee Group from the current rate of 60%.

This story uses material from Plansee, with editorial changes made by Materials Today. The views expressed in this article do not necessarily represent those of Elsevier.