NORD DRIVESYSTEMS Exceeds $1 Billion in Sales for First Time in Company History

Summary

2022 has proven to be another record-breaking year for NORD DRIVESYSTEMS as the company has achieved more than $1 billion dollars in sales for the first time in company history. NORD sees this as confirmation from its customers that it is a reliable, competent partner with a wide range of efficient, highly configurable drive solutions that are available for over 100 specialized industries worldwide.

“It has long been our goal to form lasting partnerships with our customers," said Torsten Schultz, president of NORD USA. "We place the highest priority in listening to their needs and delivering drive solutions that are built from high quality components, are cost-effective, and offer long service life for maximum return on investment." 

NORD designs and manufactures complete, modular drive solutions consisting of gear units, high-efficiency electric motors, and intelligent electronic control products with more than 20,000,000 standard configuration options. The company's global network of subsidiaries and sales partners support worldwide sales, assembly, and customer support with locations in over 98 countries. The company manufacturers most of its components at its privately-owned production facilities that are staffed with highly trained employees. NORD continually invests in these facilities to utilize the most state-of-the-art production equipment and maintain their strict quality standards.

The US market has been a key driver in the revenue growth NORD is experiencing. NORD USA ended the year retaking its position as the largest subsidiary in the NORD DRIVESYSTEMS Group, closing with a 27% increase in sales. Investments in infrastructure and production capabilities has allowed the company to gain market share and increase assembly volume significantly. Included in these investments were multiple expansion and equipment upgrade projects at the Waunakee, Wisconsin location to increase the facilities’ production footprint and inventory infrastructure. NORD is also investing in a state-of-the-art automated paint system at the Charlotte, North Carolina facility. These investments position NORD’s U.S. subsidiary for strong growth and increased revenue in the coming years and beyond.

Providing highly configurable solutions is only one part of NORD’s strategy to best serve its customers. Another equally important initiative is increasing the energy efficiency of customer systems to reduce total cost of ownership (TCO) and minimize the number of system variants. The core product line of geared motors, MAXXDRIVE industrial gear units, and electric motors including the new IE5+ permanent magnet synchronous motors portfolio give customers the flexibility to choose from multiple options to achieve the precise functionality they require. NORD’s in-house product and engineering teams work closely with customers to determine the ideal solution to meet their specifications and budget. It is these customer-oriented values that have helped the company to achieve its annual goal for 2022 and land them in a leading spot for development of new, innovative drive technology.

For 2023, NORD looks towards the future. “We take this record sales growth as positive affirmation from our customers. We look forward to the future and continue to work diligently to offer innovative solutions our customers can rely on,” Schultz emphasized.

About NORD DRIVESYSTEMS

With more than 4,000 employees, NORD DRIVESYSTEMS has been developing, producing and selling drive technology for more than 50 years, and is one of the global leaders of full-service providers in the industry. In addition to standard drives, NORD delivers application-specific concepts and solutions for special requirements such as energy-saving drives or explosion-protected systems. In financial year 2017, annual sales amounted to $781 million. NORD now has subsidiaries and sales partners in 98 countries worldwide. The dense sales and service network guarantees optimal availability, enabling short delivery times and customer-oriented service. NORD produces a very diverse range of drives for torques from 88 to more than 2.2 million lb-in, provides electric motors in the power range of 0.16 to 1,341 HP, and manufactures frequency inverters with the required power electronics of up to 215 HP. Inverter solutions are available for conventional control cabinet installations as well as for decentralized, fully-integrated drive units.