Optimism Abounds as DIHAG Aims to Sustain Growth After METEC 2023 Success

Last Updated on: 22nd November 2023, 10:08 am

Today (12 June 2023), DIHAG Holding GmbH from Coswig, Saxony, are showcasing their product innovations at the world’s leading trade fair for metallurgy and smelting technology, METEC, in Düsseldorf. DIHAG has become a leading manufacturer of castings for industrial products, shipping, railroads, agriculture, wind turbines and other renewable energies in Europe, noted for their durable, reliable products of a high level of quality and efficiency.

At METEC 2023, they will be presenting production examples from all plants and innovations such as ultra-high-wear castings with ceramic inserts or load-hardening of rolls, as well as introducing the DIHAG Foundry Group for the first time.

This follows a successful 2022 annual result despite the current crises, due to the early completion of the Group’s restructuring, originally planned to last until 2023, in accordance with IDW S6. This was made possible by the change in shareholders in 2020, the faster recapitalization of the Group and the raising of equity capital in excess of 50 percent and a doubling of operating profit before depreciation and amortization (EBITDA) twice.

PricewaterhouseCoopers (PwC) have concluded that the turnaround of the DIHAG Group has been successfully completed, claiming the turnaround was achieved and the growth prognosis was based on a close interplay of improved payment, return and competitiveness.

Commenting on the success, Giuseppe Grasso stated: “We are delighted to have successfully completed the turnaround of the DIHAG Group and we look forward to demonstrating our product innovations at METEC 2023”.

For more information, visit: www.dihag.com

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