igus GmbH, a Cologne-based motion plastics expert, successfully maintained its billion-euro turnover in 2023, despite the challenging global economic situation, following two years of rapid growth totaling 57 percent. In 2024, the company will invest in 247 new motion plastics products and digital services. More favorable and better solutions for lubrication-free movements, low-cost automation, and CO2-reducing products are the focal points. The use of artificial intelligence (AI) has now made it possible to bundle hundreds of thousands of test data and millions of applications from 60 years of igus experience into a simple solution finder for the ‘Zero Lubrication’ goal: the igusGO app. €433 million of investment in the last three years, around half of it in Germany alone, is accelerating this technical progress and delivery from stock worldwide. This trend is set to continue in 2024.

Despite the tense global economic situation, the company increased the number of its active customers by 6.7 percent in 2023 and achieved an annual turnover of €1.136 billion. This means that the company only recorded a slight decrease of 1.65 percent compared to the previous year. “Declines in regular customers due to the economic situation were largely offset by new customers and new applications. We are confident that we will continue our growth in 2024. The first quarter was difficult, but the annual forecast for 2024 is good,” states Tobias Vogel, Managing Director, Bearings and Linear Technology, igus.

“With major projects such as the shore power supply for container ships in the Port of Hamburg, we are looking positively to the future,” adds Michael Blass, Managing Director, e-chain systems, igus. “The requirements and wishes of our customers are constantly driving us to create new internal start-ups. We combine our core technology of motion plastics with digitalization and AI. We are well on the way to establishing digitalization as an equal technology at igus. This was the only way to achieve successes such as our smart plastics, the RBTX robot marketplace, and the igusGO app for zero lubrication.”

 247 innovations: from solutions for battery production to autonomous robotic arms

This year, the company is presenting 247 new products at the Hannover Messe. Among these are high-load bearings for heavy machinery, crucial for the ‘Zero Lubrication’ range. Three new materials, which have already proven themselves with users such as excavator manufacturers, are coming onto the market.

“‘igus, make the excavator lubrication-free!’ can already be realized via voice control in the igusGO app,” says Vogel. "This is where material technologies and AI come together and offer simple and secure access to a wealth of information and suggestions for all industry professionals around the world via AI chat.”

 The app is based on hundreds of thousands of test data and millions of applications from 60 years of igus successes. But sustainability goes beyond avoiding lubrication: with a new slewing ring bearing made of 50 percent wood and 50 percent high-performance plastic, the company is taking the integration of renewable raw materials into industrial production one step further. The wide range of PTFE- and PFAS-free solutions for linear and plain bearings and the comprehensive 4-year guarantee for all igus products with online service life calculation also represent progress towards genuine sustainability.

The strategy of many companies to build battery factories in Europe is also sustainable. Batteries are manufactured in dry rooms, and this requires machine components that are lubrication-free and do not become brittle. igus now supplies a wide range of products for this purpose, all tested in specially built dry labs. And the fact that state-of-the-art automation can be affordable for almost any factory is demonstrated by the ‘ReBeL on Wheels’. The ReBeL robotic arm on a low-cost autonomous vehicle as a solution for SMEs is available from €17,999, while the education version for universities and schools is available for €14,699 (prices may vary in different countries).

€433M in investments in three years—the pace continues

The fact that igus is constantly expanding the motion plastics product world, always with the aim of ‘improving what moves’, is a consequence of the long-term corporate strategy. Following the breakthrough to the first billion euros in sales in 2022, the company set a new target: one million industrial customers per year. At the time, this represented a 5.5-fold increase.

“We are therefore pleased that we have at least come a little closer to this goal in a difficult year,” asserts Blass. “We have invested €433 million in this plan over the last three years, €210 million of which at the Cologne site.” This includes the new 22,000 sq mt factory, machines, systems, and IT innovations, and the GO Zero Lubrication apps, for example.

The figure includes a strategic doubling of global stocks of catalog parts. “In lieu of the technological revolution, customers want deliveries within 1-3 days and at favorable prices,” explains Blass. “Thanks to our investments, we are doing this better than ever before, even worldwide.”

The median delivery time worldwide is currently six days, including numerous engineering projects with long lead times. Investments will continue at the same pace in 2024 and in Germany. New machines and automation solutions are purchased for the new factory in Cologne where many of the internal start-ups are based, forming a motion plastics tech center. Additionally, the conversion of a 2,800 sq mt office building into a further start-up and training center which will be open to customers, will soon begin.

Expansions are continuing around the world, with a focus on fast delivery times. Decisions with construction measures have already been made for China, Taiwan, India, Italy, Spain, Poland, USA, Mexico, and Turkey. Vogel concludes, “We are investing wherever our customers are in the world and in Germany.”

For more information: www.igus.in