The sheet metal specialist has mastered their craft: Despite the economic crisis caused by the coronavirus, Friedrich Graepel AG was able to increase its sales to a new record high with German factories in Löningen and Seehausen/Altmark.
This is evident from the final report for the 2021 financial year, which has now been submitted. According to the report, revenues rose by 30 percent to EUR 109 million. This is a new record for this family-owned company, which has been geared entirely towards the cold forming of sheet metal since 1889.
The development of the global economy with the coronavirus presented the management with major challenges. “We had to counteract the negative trends and optimize in many places,” said Carlo and Felix Graepel. Supply chains are still experiencing problems. Graepel had to reorient themselves here - a process that would also influence the current financial year. Some of the costs had risen considerably. Not everything can be passed on to customers.
A large part of the increase in sales was achieved by Graepel in the sales area of vehicle construction. As a supplier, we develop and manufacture components and assemblies distinguished, among other things, by their low weight. These include ventilation grilles for trucks, construction and agricultural machinery, as well as cars. It can be said that our customers with their renowned brands, as well as our global orientation, wide range of services and, last but not least, in-depth know-how, have put us in a very good position. No competitor in the industry can claim a production capacity of five factories on three continents. The new factory in India started up operations in time for the financial year. The demand from the Asian markets, especially in agriculture, was promising. The factory in the USA has also enjoyed a splendidly positive trend. Only a few weeks ago, the first ground was broken on a doubling of the production capacity.
The Management Board has much confidence for the 2022 financial year. Despite the difficult conditions, sales growth is expected to continue. Graepel currently employs around 800 people, and that number is expected to rise. The manufacturer operates two factories at the company's headquarters in Löningen. In addition, there is a large production facility in Seehausen in the Altmark region, where metal profile grating and other construction products for "safety underfoot" are manufactured. Incidentally, these are also relevant for Graepel's renewable energy business, especially since the federal government and the EU have many plans in this area. So, all in all, there is a glimmer of hope for the economy, as things as are going impressively well at the moment in terms of shaped sheet metal. More on this can be found on the internet at Graepel.de.
Photo: Looking back on a good business year and targeting new markets: The brothers Felix and Carlo Graepel (from left to right).