Automation is transforming production processes around the globe, driven by the continuous strive for efficient production and improved quality. The average global robot density increased to 162 robot units per 10,000 employees in 2023, up from 74 units in 2016 (according to IFR). The technological breakthroughs in robotics and connectivity brings multiple opportunities, such as opening-up new industries for automation and facilitating fully digital business models, requiring Piab’s smart and line-critical solutions.
The company will continue to invest in product development to be at the forefront of innovation and deliver smart automation solutions to help its customers improve productivity and working environments. Piab Group will also continue to expand its geographic end markets and look for strategic add-on acquisitions to accelerate growth and expand into adjacent segments.
Piab has had a double-digit sales growth over the last years, through a combination of organic growth and acquisition of niche players to further strengthen the product offering and geographical footprint.
Piab’s vision is an automated world where no resources are wasted, and no humans are injured.
RECENT HIGHLIGHTS
Piab Group has launched several new products, including the PiGRIP Flexible Level Compensator, providing extra flexibility to existing suction cups, and piCOBOT (R) Electric, Piab Group’s first electric decentralized 24-volt vacuum pump
Piab Group acquired FeiYun, a Chinese provider of vacuum conveyors and complementary equipment to the battery, pharma, chemical, food & beverage, and additive manufacturing industries.
Piab Group also acquired Alum-a-Lift, a US provider of ergonomic lifting equipment to the semiconductor, aerospace, and logistics industries.
Patricia Industries acquired Piab in June 2018.
Patricia Industries ownership (capital/votes): 91/91