Gildemeister, a company specialising in the sale of CNC machine tools, has announced it has taken on record profits for 2008.

The company, which has been established for 138 years, reported that orders were up during the year by 22 per cent resulting in takings of 1,904 million euros, marking a profit margin increase of 158 million euros to 189 million euros.

It added the despite the worse parts of the recession striking the world during the fourth quarter of 2008, this period still saw sales rise by ten per cent on the previous year.

Gildemeister has taken into account comments made by the German Engineering Foundation regarding the effects of the recession on the precision engineering industry and aims to react sensibly.

It said of the developments at the company: "The executive board also maintains that Gildemeister has a solid foundation, a good financial basis and a clear strategy to react appropriately to any change in market conditions."

Gildemeister specialises in turning, milling, ultrasonic and laser packages, as well as user-friendly automation.

http://www.machinetooldirect.co.uk/machine-tool-news/