Hoče, 08 September (STA) - Ledinek Engineering, a maker of machinery and production lines for the wood processing industry, saw sales increase by 28% in 2018 to EUR 43 million. Net profit was up 175% to EUR 1.47 million, shows the company's annual report.
The Hoče-based company, which exports 96% of its production, attributes the spike to the increased use of wood as a building material around the world and the resulting investments.
"As one of the leading companies in the world in machinery and production lines for wood processing, we are seeing growing demand, not just on the traditional markets of Central and North Europe but also increasingly in the US, Canada, Russia, Ukraine, Australia and Japan," Gregor Ledinek, the director of the family-owned firm, says in the annual report.
Founded in 1992, the company has built production lines in 45 countries. Last year it completed the construction of a new production hall to meet rising demand.
One of its biggest projects in 2018 was the construction of a production line at the company Sundaya in Japan, which had to be shipped to Japan in 38 shipping containers.
The company has almost 150 employees and posted value added per employee of EUR 66,000, up 17% over the year before.