2023 has been surprisingly good for Lesjöfors, and we are showing a strong overall result despite weaker demand in the overall market. The key lies in having a diversified customer portfolio that becomes more varied with each passing year. This ensures our stability and positions us well in sectors that have shown strong development.
Two significant acquisitions in 2023
The Dutch company Amatec that specializes in distribution, has been part of the group since the beginning of the year and provides substantial support for our European initiative on standard stock springs. Tollman Spring is our third acquisition in the USA in 18 months, manufacturing springs in smaller dimensions. Our three American companies give us a strong foothold in the USA with a wide range of products. Lesjöfors is now one of the leading companies in the American spring market.
Growth in focus areas
We have identified some areas where we are currently stepping up our efforts as we see significant growth opportunities. We are making significant investments in a new hot coiling line at the Lesjöfors factory (in Lesjöfors, Sweden), where industrial springs in large dimensions are produced. In the European market for standard stock springs, we aim to grow and have, among other things, an improved e-commerce solution in the pipeline. The technological content of products in the medical technology sector is increasing, benefiting the demand for our components in Europe, Asia and the USA.
We aim to be number one in sustainability
Sustainability is one of the areas I am most pleased with in 2023. We have signed the Science Based Target initiative and thus adopted challenging climate goals. The development is now progressing rapidly, with increasing needs ranging from sustainability data to eco-designed components. We are at the forefront and have initiated several projects where we have made significant progress. In addition to mapping the impact of our products and processes, we take a step further. We integrate the data into our calculations, becoming crucial advisory data in the dialogue ahead of your development processes for new products.
A huge thank you
Finally, I want to take the opportunity to express my gratitude for the excellent collaborations that I experience throughout the entire group with all our customers. After a well-deserved break, I know that all colleagues will be ready again to discuss new, challenging spring solutions that lead us into an exciting, sustainable future.
Merry Christmas and Happy New Year!
Ola Tengroth, CEO