Double digit revenue growth in Canada seen by connector supplier
Toronto – Harting Canada continues to experience double digit annual revenue growth, a trend which shows no sign of abating, says Jon DeSouza, president and CEO of Harting Canada and Harting North America.
The outlook for Harting’s Canada and the US sales in fiscal 2015 is bright, he told trade media representatives gathered for a press conference at Toronto’s Evergreen Brick Works.
Key indicators suggest an acceleration of US GDP growth to the 3.0-3.5% range, he said. “Strong US demand and the Canadian weaker dollar benefits manufacturers in Quebec and Ontario – our largest markets. We expect that to translate into increasing sales for our modular connectivity products in particular, as well as custom solutions like our North American-made backplanes and cable harnesses.”
The company’s Canadian revenues increased by 40% to almost C$5m in Harting’s fiscal 2014, which ended Sept. 30. “Our Canadian revenues grew at almost double the pace of our US revenues, albeit from a much smaller base,” said DeSouza. “It’s hugely gratifying for us to see such continuing success three years after we launched Harting Canada to give the company a full-time direct presence here.”
The family-owned company’s FY 2014 global revenues rose by 13% (to €547m from €484m). That included 40% growth in Asia (to €126m from €90m and 13% for the Americas as a whole (€52m from €46m). Revenues in Germany rose 11% to €194, but the rest of Europe and the Middle East registered only marginal growth. North American/NAFTA sales rose 20% to US$56m.
Harting Canada’s strongest product segments in fiscal 2014 included its Han modular connectors – its signature product segmen, DC2 connectors like the PushPull lineup, and custom backplane manufacturing. Top market segments include broadcasting, machinery and transportation. In transportation, Harting connectors are being used in new Toronto subway cars and trolleys being built by Bombardier in Thunder Bay, ON.
Harting Canada’s new-product sales revenue rose by 74% last year, said DeSouza, which he predicted will auger well with many product innovations in the pipeline for 2015 and beyond.
Harting expanded new product development with the opening of a new Quality and Technology Centre (HQT) at Harting headquarters in Espelkamp, Germany, in June 2014. The company’s total R&D investment amounted to amounted to €44 million, a 10% increase over fiscal 2013. Projects undertaken at the HQT will develop cutting-edge technologies. The centre also serves as a state-of-the-art test facility.
For more information, visit www.harting.ca