KATEK Group reports strong growth amidst the current pandemic
The electronics manufacturer is reporting strong growth, even during the corona pandemic. During the first eight months of this year, KATEK has already grown in sales by more than 40 % and intends to continue this high pace for the remainder of the year.
The company says that the growth is heavily tied to the acquisitions of the last quarters, but is also purely organic, currently at more than 5%. “A special achievement is that we continue to gain market share, even though the electronics industry is shrinking this year due to the pandemic,” says Rainer Koppitz, CEO of the KATEK Group, in a press release. “The management consultancy in4ma speaks of minus 7.5 % in 2020. KATEK's excellent results can also be attributed to our broad, crisis-resistant positioning and the entrepreneurial management of our subsidiaries, which we have been consistently implementing since the group was launched in January 2019. The main growth drivers were medical technology, the solar/energy sector, electromobility and the embedded systems business.” Currently, the company says that the positioning of the group is being optimised in such a way that KATEK will be able to continue its profitable growth in 2021, despite the competitive and generally unpredictable economic situation. This optimisations includes the expansion of the prototype express service business of its subsidiary beflex. More precisely this will result in a fourth prototyping center in Hamburg under the management of Andreas Klinger. The group will also reshuffle some of its production, for instance, its location in Frickenhausen (beflex), will focus on prototyping, sales, development/test engineering and IT; while future production of the products previously manufactured at Frickenhausen will be moved to more competitive KATEK Group locations in Germany and Eastern Europe Adding to this, the group is also planning the opening of its new logistics building in Grassau (Bavaria), which will offer KATEK almost 6'000 square metres of available space. The group will also expand its location in Saedinenie, Bulgaria, under the leadership of the new managing director Hristo Nenov. The company says it intends to significantly increase the capacities in the areas of EMS, box-building and cable production “We have taken this pandemic very seriously and will continue to do so,” continues Koppitz. “For example, we switched the administrative staff into home office very early on. In addition, we required the managing directors at all locations to communicate openly and affirmatively and to create understanding for all measures – such as temporary closure of the social rooms or short-time work – in order to strengthen the trust and motivation of the employees. At the same time, we continue to set the course during the crisis with undiminished speed in order to make the KATEK Group even faster and more competitive.”