Softing : experiences high demand from the process industry
January 31, 2018 at 08:30 am EST
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DGAP-News: Softing AG / Key word(s): Incoming Orders
Softing experiences high demand from the process industry
31.01.2018 / 14:23
The issuer is solely responsible for the content of this announcement.
Haar, January 11th, 2018 - Softing Industrial has received significant purchase orders from customers engaged in the Oil & Gas industry. A large part of the budgeted 2018 product sales is already secured by binding orders received in the first month of the year.
The demand from the process industry for advanced technical communication solutions is showing the expected recovery. The Munich based business unit "Data Networks", part of Softing's Industrial segment, is showing incoming orders for oil & gas specialty products of more than 2 million EUR in the first 30 days of the year. These binding purchase orders have been placed by customers who showed little to no demand in 2017. Softing expects further product and project orders in the upcoming months.
"The strong receipt of orders confirms our expectation that the process industry is entering a phase of economic recovery. Softing enjoys unique selling propositions in this market, resulting in a disproportionally high contribution to the profit", says Wolfgang Trier, CEO of Softing AG.
Almost all of these products will be shipped in the second half of 2018 due to long lead times for industry specific electronic parts, components and housings.
About Softing
Softing AG is a globally operating management holding. The companies of Softing AG develop, produce and market software and hardware for in its Industrial, Automotive and IT Networks segments. They develop high-quality standard technology products and customized solutions in close cooperation with their customers. All of Softing's business segments operate in growth markets.
Contact:
Dr. Wolfgang Trier
CEO
31.01.2018 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement.
The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.dgap.de
Language:
English
Company:
Softing AG
Richard-Reitzner-Allee 6
85540 Haar
Germany
Phone:
+49 (0)89 456 56-333
Fax:
+49 (0)89 456 56-399
E-mail:
InvestorRelations@softing.com
Internet:
www.softing.com
ISIN:
DE0005178008
WKN:
517800
Listed:
Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange
Softing AG is a Germany-based software and systems company. The Company operates through two segments: Industrial Automation and Automotive Electronics. The Industrial Automation segment provides tools and devices for signal and protocol analysis of industrial communication networks, gateways for linking fieldbuses to Ethernet-based communication systems and planning and administration systems, as well as interface cards, integration modules, chip solutions and communications software (stacks) for implementing bus links in systems and devices used in process and production automation. The Automotive Electronics segment offers diagnostic solutions for development, testing and production, editors for diagnostic data, diagnostic servers for the real-time processing of diagnostic data, as well as software interfaces for connecting diagnostic servers to production systems and editing and runtime systems for test sequences with connections to numerous third-party products.
SOFTING AG 
