Americas Region Led Company's Global Growth with 9% Increase
CHICAGO, Dec. 19, 2023 /PRNewswire-PRWeb/ -- Today, HARTING, the gold standard in connectivity for industrial environments and mission-critical applications, announces that for the second consecutive year, the company's sales have exceeded $1 billion, showcasing the demand for its superior, universal connectivity products that are powering technology around the world. Additionally, it shared that the Americas region showed the highest growth in the 2022/2023 financial year, with a 9% increase, to a total of $173 million. The favorable economic conditions, including the Inflation Reduction Act in the United States, contributed to the increased sales during a volatile global year.
HARTING's sales in Asia decreased by $26 million (down 9%) due to the current weakness of the Chinese market. Germany saw stable sales at $302 million (up 2%) while EMEA, Europe excluding Germany, saw sales decline by $20 million (down 5%) to $387 million. In total, globally, HARTING's sales decreased by 2.2% over the previous fiscal year, so the growth in the Americas is notable, especially in the field of manufacturing, which has been a weak piece of the United States economy.
"HARTING Americas is focused on building upon our success this year, bolstering a resilient business here that supports our customers' needs to access our high-quality products with reliable lead times," said Jon DeSouza, President and CEO of HARTING Americas. "As we look towards 2024, we recognize the urgency for the world to electrify and decarbonize, ending its reliance on fossil fuels, and HARTING's technology is powering that movement in the Americas and beyond."
The region's growth was bolstered by its capacity increases, including a new e-mobility line in Mexico. Its unique supply chain model creates more reliability, shorter lead times, and more sustainable shipping practices. Additionally, HARTING offers customized solutions, including cable assemblies, and is rapidly expanding this business vertical in the Americas, where it has a top-notch engineering and operations team. All of HARTING's facilities adhere to the same rigorous quality standards and production processes, meaning that production can quickly be scaled globally. The company also invested heavily in further digitalization and automation of production and processes to enhance its technology outputs and its mission of electrifying the world to reduce carbon emissions and enhance sustainable practices.
HARTING is committed to sustainability and protecting the environment, the values of which are woven into its company ethos. HARTING has relied on 100% green electricity for 10 years and is now becoming independent of the gas grid with the acquisition of an additional biogas plant in Espelkamp, Germany where it is headquartered in Europe. This further reduces its carbon footprint by 1,322 tons, simultaneously leading it to its goal of carbon neutrality.
By 2027, HARTING aims to reduce carbon emissions worldwide by 60% and achieve climate neutrality by 2030. In this context, HARTING is once again heavily investing around $82 million in the next financial year in the research and development of new connectivity solutions for decarbonization, digitalization, and automation, as well as in structures and processes and further globalization through market- and region-specific development and production capacities.
About HARTING Americas:
HARTING is the gold standard in connectivity for industrial environments and mission-critical applications. As the pioneer in connectivity, HARTING combines the quality and customer service of its family-owned operations with a global footprint backed by in-region manufacturing facilities and local teams with deep engineering expertise. With a reliable and robust approach to connectivity for any environment, HARTING enables improved efficiency and sustainability and future-proofs the businesses of today to power the innovations of tomorrow. For more information, visit http://www.harting.com.
Media Contact
Aimee Eichelberger, 312.952.1528, [email protected], https://www.harting.com
SOURCE HARTING
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