EUMABOIS, the European Federation which represents over 800 companies in the woodworking technology business, looks back at its 2016 achievements and expects a positive outlook for 2017.
- The Board appointed Mr Juergen Koeppel from Leitz as President and Mr Luigi De Vito from the SCM Group to Vice President.
- The International Monetary Fund expects a 1.9 percent GDP growth in the EU, a figure relatively lower compared to the world average of 3 percent and Asia’s projected 5 percent. However, this is an improvement compared to the past few years of near zero growth rates.
- Two significant exhibitions—HolzHandwerk in Nuremberg and Xylexpo in Milan—reaffirmed the importance of the European market and necessity to adopt internationalisation as a strategic business decision.
Looking towards 2017
- The picture so far suggests that the industry has overcome the 2009 global financial crisis. Some global political and economic uncertainties include:
- Post-US election results demonstrated a strong desire for change in a country that is still the world’s second largest furniture producer.
- Some countries in North Africa and Asia are suffering from domestic troubles that slow down buying, while competition from China, the world biggest furniture producer, is getting stronger.
- 2017 should bring good opportunities, though success will depend on the commitment and determination to improve performance, innovate and adapt to change.