NORD Exceeds $1 Billion in Sales in 2022
2022 has proven to be another record-breaking year for NORD DRIVESYSTEMS as they achieved over $1 billion dollars in sales for the first time in company history. NORD sees this as confirmation from their customers that they are a reliable, competent partner with a wide range of efficient, highly configurable drive solutions that are available for over 100 specialized industries worldwide.
“It has long been our goal to form lasting partnerships with our customers. We place the highest priority in listening to their needs and delivering drive solutions that are built from high quality components, are cost-effective, and offer long service life for maximum return on investment,” says Torsten Schultz, president of NORD USA.
NORD designs and manufactures complete, modular drive solutions consisting of gear units, high-efficiency electric motors, and intelligent electronic control products with more than 20,000,000 standard configuration options.
Their global network of subsidiaries and sales partners support worldwide sales, assembly, and customer support with locations in over 98 countries. The company manufacturers most of its components at their privately-owned production facilities that are staffed with highly trained employees. NORD continually invests in these facilities to utilize the most state-of-the-art production equipment and maintain their strict quality standards.
The U.S. market has been a key driver in the revenue growth NORD is experiencing. NORD USA ended the year retaking their position as the largest subsidiary in the NORD DRIVESYSTEMS Group, closing with a 27 percent increase in sales. Investments in infrastructure and production capabilities has allowed the company to gain market share and increase assembly volume significantly. Included in these investments were multiple expansion and equipment upgrade projects at the Waunakee, Wisconsin location to increase the facilities’ production footprint and inventory infrastructure. NORD is also investing in a state-of-the-art automated paint system at the Charlotte, North Carolina facility. These investments position NORD’s U.S. subsidiary for strong growth and increased revenue in the coming years and beyond.
Providing highly configurable solutions is only one part of NORD’s strategy to best serve their customers.
