ALBSTADT, Germany — March 12, 2019 — The Albstadt-based circular knitting machine manufacturer Mayer & Cie. (MCT) generated sales of around 110 million euros in 2018. Compared with the previous year, the long-established company reported a slight increase in sales even though 2018 was a year of considerable challenges and the global economic situation remains difficult, clouding the outlook for the year ahead. The company does, however, expect the industry’s leading trade fair ITMA to trigger a textile machinery recovery in early summer. In future, Mayer & Cie. would like to make itself less dependent on the technical machinery market by developing its second mainstay, the manufacture of braiding machines.
Review of 2018: A positive balance despite massive fluctuations
“2018 was a very challenging year,” said Benjamin Mayer, managing director of Mayer & Cie., reviewing the past 12 months. “We had a great first half until trade policy developments led to a marked decline in sales revenue. Nevertheless, sales were good overall and at 110 million euros we even managed to achieve a slight increase.”
Mayer & Cie. was affected most by turbulence in Turkey, traditionally one of the company’s most important markets. At the beginning of the year the order intake was at a peak, only to collapse in the second half due to devaluation of the Turkish lira. In addition, the trade conflict between the United States and China unsettled the entire global economy. Repercussions on the textile trade took their toll. Business with Iran, for example, an interesting market for Mayer & Cie. as a potentially strong textile country, was made impossible by the reimposition of US sanctions. “2018 again made it clear that the textile market and with it the demand for circular knitting machines is repeatedly subject to strong fluctuation,” Mayer concluded.
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