Miba, an Upper Austrian industrial company, has seen 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. Sales in the wind energy sector alone have tripled in the past two years, thanks to innovative solutions such as plain bearings for gears and friction pads for brakes.
In the e-mobility sector, Miba has also experienced growth, with sales tripling in the past two years. The company is confident about the continued growth in this area, despite a recent decline in sales of electric cars. Miba is investing heavily in research and development, with nearly half of the new patents and utility models related to e-mobility.
Miba is expanding its production facilities both internationally and domestically. Investments of 130 million euros were made in 2023, with a plan for similar investments in the following year. The company is opening new factories in Mexico and China, as well as expanding existing facilities in Austria. They are also investing in training and education centers for their employees.
Despite concerns about rising labor costs in Austria compared to other countries, Miba remains optimistic about its future growth and production in 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 in 29 locations worldwide, Miba continues to innovate and expand its presence in the industrial sector.