Record Sales in Business Year 2020
Press releases
Sales increase at double-digit percentage rate
Successful even in times of crises: SIEB & MEYER AG achieved record results in 2020, especially in the business unit CNC controls. In the drive technology unit, the Lueneburg based company also did well: The frequency converters for high-speed motors achieved sales figures on a good level.
"In spite of the COVID-19 crisis this upward trend has been continuing for over a year now," said Markus Meyer, CEO at SIEB & MEYER AG. "Of course we are twice as happy about the well-filled order book in these difficult times." The reason for the increased demand for CNC controls is the global rollout of 5G mobile networks. Advanced CNC control technology is a prerequisite for the production of the respective PCBs to achieve the required quality as well as quantity. SIEB & MEYER is the world market leader in this area and has more than 45 years of application experience.
The frequency converters and servo amplifiers by SIEB & MEYER also remain popular with the customers – most notably the three-level frequency converter SD2M that conquers more and more new markets owing to the novel technology and continuous development. Since this innovative solution is a true success product, SIEB & MEYER is currently building a new production/storage hall with around 450 sqm to expand the production capacity of the product line SD2M.