German machine tool industry grows and steals Asian market from European competitors

The German Machine Tool Builders’ Association predicts 5% out-put growth in 2012 with China as a captive audience. In 2011 the German Machine Tool Builders’ Association (VDW) recorded a Eu13.1 billion turnover for its sector. “At 33 per cent, this is the highest growth ever recorded”, said Martin Kapp, chairman speaking at the association’s annual…