Swiss foundry industry closes 2023 below previous year
Published: Thursday, Feb 1st 2024, 11:00
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The Swiss foundry industry produced less in 2023 than in the previous year. The industry does not expect a recovery until the end of 2024.
Overall, the tonnages delivered in 2023 decreased by 2.1% compared to the previous year, as the Foundry Association of Switzerland (GVS) announced on Thursday. Although 2023 started on a positive note, the higher demand was replaced by a "gradual decline" in orders over the course of the year.
While production of light metal and non-ferrous castings increased by 1.1%, the output of iron castings fell by 4.1% compared to 2022. Overall, the production volume fell by 2.1% to 40,130 tons delivered.
According to the GVS, however, Swiss foundries remain cautiously optimistic. In view of the increasing demand for sustainable casting solutions, the industry is confident. However, the industry association does not expect the economy to recover "at a lower level" until the end of 2024 at the earliest.
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