2018 was a memorable year for the Lesjöfors Group; we have never before experienced such a boost in sales. Our strategy with a decentralized structure where we work close to the customer´s operation is our main key to success.
The Lesjöfors group is growing steadily and in 2018, we reached sales figures of almost SEK 2.6 billion (EUR 255 million). We secure a good customer service for our global customers thanks to 28 factories worldwide. It is obvious to us that our customers appreciate the opportunity to local contacts and deliveries. Thanks to our extensive network, we can guarantee the best possible service and quality from all our local companies.
Strong local commitment to the customer One of our main objectives in our operations is organic growth. Our loyal and devoted employees provide our customers with the best possible service and create the conditions for growth. An additional factor that contributes to the goal fulfillment is that we show our global customers the opportunities we can offer locally in the markets where they are operating. Here, we see very good results. Worth mentioning is the development in Asia where 28% of the total invoicing in 2018 came from new business. Thanks to this, we can further strengthen our offering and the local customer service. We have the capacity to take on many more projects in Asia and other markets, so do not hesitate to contact us if you have the need.
Expanded spring product range As mentioned before, we also work hard to broaden our product offering. One example of this is the power springs we are launching in Europe and Asia based on technology developed by our American company. We can now offer a wide range of power spring products manufactured in Latvia, Mexico or the United States. Moreover, we continuously develop and expand our range of stock springs that you can find in our digital spring catalogue and web shop.
Growth through acquisitions and sustainability A successful way to establish Lesjöfors in new markets have been to acquire local spring producers. Our latest additions to the group are spring producers in Asia and Sweden. We are open to further acquisitions to strengthen our presence globally and we work methodically to realize new exciting projects.
Sustainability is vital to our group and we work systematically on these issues to improve our impact. Environmental considerations play a crucial role in our investing decisions and for developing our operations. We will in the near future give you some examples in articles and newsletters from our sustainability agenda.
Equipped for the future Our decentralized structure with a strong network of technicians and production staff conducts the basis for our group´s long-term success. The local responsibility that brings us close to our customer is an absolute success factor. We focus on our customers’ best interests in all our decision-making.
We have experienced an extremely good business cycle but have noticed that some markets now are declining. This is mainly related to the automotive industry, which is affected by both new rules and by the conversion to vehicles with lower or no emissions. We know that the automotive market is cyclical and we expect demand to come back. Besides this decline, we see and meet industrial companies who show continued strength.