NORD DRIVESYSTEMS Exceeds $1 Billion in Sales for First Time in Company History
After achieving record sales in 2021, the drive technology leader continues to find success and surpass their previous goals.
2022 has proven to be another record-breaking year for NORD DRIVESYSTEMS as they achieved over $1 billion dollars in sales for the first time in company history. NORD sees this as confirmation from their customers that they are a reliable, competent partner with a wide range of efficient, highly configurable drive solutions that are available for over 100 specialized industries worldwide. "It has long been our goal to form lasting partnerships with our customers. We place the highest priority in listening to their needs and delivering drive solutions that are built from high quality components, are cost-effective, and offer long service life for maximum return on investment", says Torsten Schultz, President of NORD USA.
NORD designs and manufactures complete, modular drive solutions consisting of gear units, high-efficiency electric motors, and intelligent electronic control products with more than 20,000,000 standard configuration options. Their global network of subsidiaries and sales partners support worldwide sales, assembly, and customer support with locations in over 98 countries. The company manufacturers most of its components at their privately-owned production facilities that are staffed with highly trained employees. NORD continually invests in these facilities to utilize the most state-of-the-art production equipment and maintain their strict quality standards.
The US market has been a key driver in the revenue growth NORD is experiencing. NORD USA ended the year retaking their position as the largest subsidiary in the NORD DRIVESYSTEMS Group, closing with a 27% increase in sales. Investments in infrastructure and production capabilities has allowed the company to gain market share and increase assembly volume significantly. Included in these investments were multiple expansion and equipment upgrade projects at the Waunakee, Wisconsin location to increase the facilities' production footprint and inventory infrastructure. NORD is also investing in a state-of-the-art automated paint system at the Charlotte, North Carolina facility. These investments position NORD's U.S. subsidiary for strong growth and increased revenue in the coming years and beyond.
Providing highly configurable solutions is only one part of NORD's strategy to best serve their customers. Another equally important initiative is increasing the energy efficiency of customer systems to reduce total cost of ownership (TCO) and minimize the number of system variants. The core product line of geared motors, MAXXDRIVE industrial gear units, and electric motors including the new IE5+ permanent magnet synchronous motors portfolio give customers the flexibility to choose from multiple options to achieve the precise functionality they require. NORD's in-house product and engineering teams work closely with customers to determine the ideal solution to meet their specifications and budget. It is these customer-oriented values that have helped the company to achieve their annual goal for 2022 and land them in a leading spot for development of new, innovative drive technology.
For 2023, NORD looks towards the future. "We take this record sales growth as positive affirmation from our customers. We look forward to the future and continue to work diligently to offer innovative solutions our customers can rely on," Schultz emphasized.
To learn more about NORD's wide range of drive technology products, visit www.nord.com.