Continuous growth and investments saw Spanish lathe maker CMZ deliver 549 lathes during the 2023 financial year, achieving an unprecedented turnover of €110 million – exceeding its strategic plan and beating its previous turnover record.
With a clear target of achieving a €100 million turnover by end of 2024, the company invested in technology and facilities to meet high market demand. However, at the end of the financial year 2023 CMZ had not only exceeded forecasts by 10% but had done so a year early.
CMZ Machine Tool Manufacturer S.L is responsible for product lifecycle from beginning to end, with the company owning the technical support service for all its lathes and aftersales service. In the financial year 2023, the technical support service achieved a €10 million turnover from over 3,600 interventions and delivering 6,747 spare parts. The company’s technical customer hotline, manned by CMZ engineers, also handled a total of 15,000 calls.
Sales of CNC lathes accounted for around €100 million. Of those sales, 75% were exports, the company’s six European subsidiaries and its own wide network of distributors enabled supply to both the domestic market and the ‘old continent’. Almost 10% of sales were to demanding international markets such as the USA and Turkey, which the company believes has great potential for future business.
In addition, in early 2023, CMZ launched the renewed online tool holder shop, CMZ Store, which had processed around 700 orders by the end of last year – with an average ticket price of €1,645. Thereby enabling the company to provide support and streamline the entire purchase process for its lathes.
2023 also saw the opening of CMZ’s sixth European subsidiary, CMZ Denmark, strengthening its international expansion plan. The Danish market’s potential enables CMZ to increase its market share and offer a more customer friendly, direct service.
To handle last year’s investments in production equipment, over 40,000m2 of usable space was made available for manufacturing and marketing CNC lathes, including the opening of CMZ Denmark, and the new Precitorm– cylindrical parts machining plant in Elorrio – which triples the old plant’s surface area. The company points out that by investing in facilities with the latest technology and centres, high market demand can be met with a product in which more than 80% of components are made at its own facilities.
CMZ is now planning to focus on increasing production capacity to 800 CNC lathes a year and aims to open a US subsidiary in late 2024.
Will joined Fastener + Fixing Magazine in 2007 and over the last 15 years has experienced every facet of the fastener sector - interviewing key figures within the industry and visiting leading companies and exhibitions around the globe.
Will manages the content strategy across all platforms and is the guardian for the high editorial standards that the Magazine is renowned.
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