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4 March 2010 Spanish Machine Tool Sector Slowly Begins to Recover
After suffering a big drop in demand as a result of the global economic crisis, the Spanish machine tool sector has reached a turning point and is now seeing a slight, gradual improvement in its main business indicators. This is the word from the AFM, the Spanish Association of Machine Tool Manufacturers. “Although we are certain that the worst is now over as far as the demand for machine tools is concerned,” says AFM chairman Koldo Arandia, “we are still going to have a very tough six months, probably the toughest ever, until the very slight reactivation in demand we are detecting is consolidated and can materialize in terms of industrial activity.” Many individual companies continue to have serious problems, despite the overall uptick. “In this situation,” continues Arandia, “it is essential for companies to be able to get funding to enable them to maintain their structure and activity, and take on new projects and orders.” Spanish machine tool production in 2009 was €762.5 million. That was 27.8% less than the 2008 figure of €1.06 billion and the lowest volume for the sector in the past 10 years. Demand hadn’t been at as low a level since the early 1990s. Exports, though down, have stood up better, bottoming out at 2006 levels. Overseas sales of Spanish machine tools fell 21.8% from 2008 to 2009, amounting last year to €575.2 million. The high level of globalization in the machine tool has served to sustain the Spanish manufacturers. In 2009, more than 75% of the country’s machine tool production was for the export market. Arandia sees a positive sign here. “This fact, in spite of the dramatic fall in demand in general, shows that our products are internationally competitive,” he argues. Recent evidence suggests that the BRIC countries—Brazil, Russia, India and China—particularly India and China, will drive the resurgence in demand for Spanish production machinery. Says Arandia: “The challenge is to continue taking positions in these countries so that we can benefit from their consumption rates.” Spain’s domestic market for machine tools is still its top market, but hardly any positive signs are there, according to the AFM. Recovery in domestic sales will be more complicated and slower than recovery in export sales. The AFM supposes that the 26th BIEMH biennial Spanish machine tool fair, being held in Bilbao from May 31 through June 5, will coincide with an evident gradual recovery of the sector. It encourages buyers to come and update their equipment to improve their industrial productivity and competitiveness. For further information: AFM
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