Continued sector growth: 8.4% in 2008
Steady sales expected despite slump in incoming orders for 2009
Hamburg, July 7th 2009: “2008 was generally still a very good year with impressive 8.4% growth. In autumn, however, gloom also spread to our sector, which has been so used to success in the last five years,” reports Dr. Alexander Nürnberg, chairman of the German Engineering Federation (VDMA) – Marine and Offshore Equipment Industries at the association’s press conference in Hamburg. “We had expected a consolidation of the shipbuilding markets, which had been very overheated up to mid-2008. But no one could foresee the actual massive impact of declines in orders, project cancellations and business failures of major customers. Yet we are not putting our heads in the sand – precisely in this phase, we have to step up our R&D efforts significantly and plan for after the crisis. The global competition is not asleep, and we must become better and less expensive,” notes Nürnberg. “When the markets recover, we must be in good shape to maintain and expand our position as top export country for marine technology.”