In the 2021 financial year, annual sales amounted to €870m.

"We… see the sales development as a recognition of the well-known Nord product quality," said Gernot Zarp, managing director sales.

"This shows how well our drive solutions meet the requirements of the various industries and how much Nord is valued by its customers as a reliable and competent partner," he added.

Nord develops and manufactures drive systems consisting of gear units, motors and drive electronics for more than 100 industries, producing most of its components in its own production facilities. It has 48 subsidiaries in 36 countries and further sales partners in more than 50 countries.

The company says that providing customised solutions for a wide range of requirements is “just as important… as increasing the energy efficiency of its systems and reducing the total cost of ownership for its customers”.

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Nord DriveSystems launches all-purpose MaxxDrive XD gear unit