Tristone Flowtech to keep investing in Mexico after 44% sales growth in NAFTA region
Frankfurt-based Tristone Flowtech Group revealed in its annual briefing that expansion plans for its new facility located in Delicias, Mexico, remain ahead, driven by a 44% increase in sales over the NAFTA region.
The company reported a sales growth of 9% to US$ 264 million in 2016 as well as 33% higher incoming orders, reaching the highest sales and the highest order intake ever.
A high portion of 17% of the overall order intake is dedicated to Hybrid and Electrical Passenger cars which is demonstrating the strong position of the Group in this business field, said Günter Frölich, President and CEO of Tristone Flowtech Group in a press release.
The sales growth of 9% versus prior year is driven by a growth in the NAFTA region of 44%, the European region of 7% and a temporary drop in the China region by 12% due to phase out of programs there. The group is expecting a further growth of 10% in 2017 to US$ 291 million sales.
Last December the company started with production at a new plant in Delicias, Chihuahua, Mexico with engine and battery cooling applications as well with the manufacturing transfer from an existing facility into the new plant.
The new facility operates over a 16,500 square-meter surface, twice as big as the existing plant at the same location.
The Group is investing nearly US$ 6.4 million in the last year and the ongoing year in the expansion of manufacturing equipment in said plant.
Tristone Flowtech Group, is highly specialized on fluid applications in the areas of motor and battery cooling as well as air charge and air intake systems and is more and more benefiting from the trend towards a reduction of space and fuel consumption with the introduction of polyamide materials as well as the introduction of new Powertrain concepts with hybrid and electrical cars and the integration of fluid motor and battery cooling systems.