Miba, an Upper Austrian industrial company, has experienced significant growth in sales in the past year, with an increase of 8.1 percent totaling 1.205 billion euros. The company is involved in the production of technologies used in gears, rotors, and electronics for wind turbines and components for electric vehicles.
In the wind energy sector alone, Miba has seen a tripling of sales in the past two years due to innovative solutions such as plain bearings for gears and friction pads for brakes. In addition to its successes in wind energy, Miba has also experienced growth in the e-mobility sector, with sales tripling over the same time period. Despite a recent decline in sales of electric cars, Miba remains confident about continued growth in this area due to its investments in research and development. Nearly half of the new patents and utility models related to e-mobility come from their extensive R&D efforts.
Miba is expanding its production facilities both domestically and internationally with investments of 130 million euros made in 2023 and plans for similar investments in the following year. They are opening new factories in Mexico and China while also expanding existing facilities in Austria. In addition to these investments, they are also investing heavily in training and education centers for their employees to ensure continued growth and innovation within the company.
Despite concerns about rising labor costs compared to other countries, Miba remains optimistic about its future growth and production opportunities within Europe. They serve both local and international markets and have not been significantly impacted by trade disputes between the EU and China. With over 7,600 employees worldwide, Miba continues to innovate and expand its presence within the industrial sector while maintaining a commitment to sustainable practices across all aspects of their business operations.
Overall, Miba’s success can be attributed to its dedication to innovation
