TRUMPF North American Revenues Break $1B Mark
North American revenues for Farmington-based manufacturing company TRUMPF Inc. broke the $1 billion mark for the first time in fiscal 2023.
The North American subsidiary of German-based TRUMPF Group reported a 33% increase in sales to $1.05 billion for the fiscal year that ended June 30.
TRUMPF Group reported a 27% increase in global sales to $5.7 billion, led by the machine tools division with $3.1 billion in revenues.
U.S. sales accounted for $942 million of total North American revenues, up 27% over the previous year, company officials noted in a statement.
North American employment also increased 5% percent to 1,631 in fiscal 2023.
“We are proud to have delivered more than a billion dollars in machines and services to our North American customers last year,” TRUMPF Inc. president and CEO Lutz Labisch said.
“Our market outlook for North America remains very positive and is supported by a robust economy, the ongoing trend of reshoring manufacturing to North America, and high investments into strategic technologies such as e-mobility and semiconductors.
“TRUMPF continues to invest significantly in North America, and we look forward to the expansion projects we have planned for next year.”
TRUMPF broke ground in March this year on a $40 million smart factory at its Farmington campus, which Labisch called “the most notable” of its expansion projects.
The company also has U.S. facilities in Michigan, California, and Illinois.
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