A new building will be developed on the company’s property and is expected to be completed next year. The space will be used to relocate administrative offices currently housed in the manufacturing building and free floor space for manufacturing and order fulfilment. This expansion is part of a multi-million Euro investment plan to build a manufacturing center of excellence for AVT in Stadtroda, which will focus on the production of large volume camera models.
This expansion does not come as a major surprise, as a recent reported released by AVT indicated that the company closed the first half of 2014 with historic sales and volume figures that far exceeded plan. In fact, only once in the 25 year history of the company has AVT shipped 10,000 cameras in one month, but this past May, the company broke that mark. In addition, a historical record of more than €6.5 Million in one month was also broken in June, which has the company’s leadership looking toward meeting or perhaps even exceeding its ambitious 2014 goals. Additional manufacturing floor space, of course, can be expected to help reach this goal.
As a result of these numbers, the company was able to fund the development of additional production capacity. Looking to the immediate and long-term future, the company remains focused on sustained growth.
"There are many reasons for our growth. One is innovation, with the upcoming introduction of new products and technologies that will enrich our portfolio," said Frank Grube, President and CEO of AVT, in a press release. "Another one is our expansion in new market segments beyond the traditional industrial inspection – for example in the medical or traffic monitoring field."
He added, "Finally, we are experiencing a strong growth in new geographical territories, especially in the Asia-Pacific region."
View the press release.
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