ModuleWorks celebrate a record year for 2007Thursday May 1st, 2008
ModuleWorks, the leading supplier of CAD/CAM components for toolpath generation and simulation, achieved a record year for sales growth and revenue in 2007.
Overall revenue increased over 60% on the previous year with more than 1000 seats of the flagship 5-Axis Simultaneous machining component shipped by ModuleWorks’ range of leading CAD/CAM industry partners. Sales of 5-Axis simultaneous component are now exceeding 200 units per month and are continuing to grow.
During the year, ModuleWorks was pleased to sign agreements with five new partners who will contribute to ongoing growth in 2008 as they begin to ship ModuleWorks machining and simulation components to the manufacturing industry.
ModuleWorks continues to invest in machining and simulation technology and has grown it’s development team to more than 30 engineers at three European development centres. A new Technical Director, David Plater, was appointed to help lead the expanded development team.
Managing Director, Yavuz Murtezaoglu comments “It has been an excellent year for ModuleWorks in terms of growth and revenue but also for product development. We reinvest more than 60% of revenue in product development and this has paid dividends with new components now coming online”. He also believes the growth curve will continue in 2008 despite harder economic conditions “Companies are still investing in manufacturing, especially in areas such as 5-Axis and Simulation where the productivity benefits can provide rapid return on investment. Our partners see continued demand in these areas and we will continue to invest in product development to support this”.