Posted on: 20 November 2018 by Alexander Preston
Recaro Aircraft Seating has announced turnover for 2018 has exceeded €500 million for the first time in the company’s history.
Chief executive officer Dr. Mark Hiller commented that, “This level of exceptional success can only be achieved with exceptional people.”
Hiller sees significant investment in several areas, including research and development, as a key reason behind the brand’s success: “Our global R & D team consists of 500 highly qualified and motivated people. Over the last five years, our team was involved in the development of the Hygienic Seat, for example, which won the German Innovation Award 2018. It was also instrumental in introducing 14 other outstanding innovations.”
“There are several strategic reasons why we are already exceeding the €500 million sales milestone with more than 110,000 seats during this current financial year,” highlighted Peter Müller, executive vice president finance & administration. “It was the right decision not to focus exclusively on market leadership in the area of economy class seats, but rather to invest in strengthening our position in the business class as well.”
The company has recently refocused to become more customer- and service-oriented than ever before, and is developing business in Latin America. It has already been present in China, from where it serves the Asia market, for the past five years.