HIMA increases sales by 6%
Published by Angharad Lock,
Digital Assistant Editor
Hydrocarbon Engineering,
HIMA Paul Hildebrandt GmbH closed the 2016 business year with sales revenue of €126.3 million, an increase of 6% compared to the previous year. An expanded range of package solutions for the process industry and positive evolution of the rail business were the main sources of new growth. HIMA also made strategic investments and forged global partnerships to secure the company's future.
“The general economic conditions in the process industry, in particular the oil and gas sector, were not easy in 2016”, said Sankar Ramakrishnan, CEO of the HIMA Group.
“We are pleased that we managed to achieve further growth under these circumstances. Among other things, our sound overall performance was due to promising trends in the growth markets APAC and Middle East, strong demand for our package solutions for pipelines, turbines, burners and boilers, and our good business in the rail sector”, commented Ramakrishnan.
HIMA laid the foundation for further growth by forging strategic partnerships in the past business year. The most important of these was a €3.1 million investment in a global ERP system, with implementation kick-off in 2016. The international rollout will extend over several years. A cooperation agreement with Freudenberg IT will create a uniform, reliable, secure and accessible global infrastructure for HIMA, enabling the company to respond even faster and more effectively to individual customer needs.
“Both initiatives are part of a long-term digitalisation and growth strategy. They basically enable us to offer our customers the same high level of performance and quality everywhere in the world”, added HIMA CFO Reinhard Seibold.
Read the article online at: https://www.hydrocarbonengineering.com/gas-processing/07072017/hima-increases-sales-by-6/
You might also like
Low US distillate consumption reflects slow economic activity and biofuel substitution
The EIA reports that US distillate consumption so far this year is lower than usual because of warm winter weather, reduced manufacturing activity, and continued substitution of biofuels in place of petroleum distillate on the US West Coast (PADD 5).