Dutch mould maker expects record-breaking revenue

The Netherlands-based IGS GeboJagema expects a revenue of €38-40m this year. The company operates mostly in the healthcare industry and has been largely unaffected by the COVID-19 pandemic.

CEO Peter Mertens said: “We’re seeing all major developments go ahead as planned. The healthcare industry is focused on 2030, not on tomorrow.”IGS delivers injection moulds to manufacturers of medical devices such as insulin pens, inhalers and contact lenses. Mertens added: “In 2006, we mainly built moulds for mobile phones, printers and the automotive industry. We decided to change course and focus on the medical sector from that point on, fully committing to innovation, automation and high precision.”Over the past decade, the company hit a growth spurt as it established a firm position in the healthcare sector. Turnover grew from €10m in 2010 to an expected €38-40m in 2020.

“The pharmaceutical industry is built on trust,” Mertens continued. “The market is composed of a small number of major players. We are very proud that we’ve been able to gain a foothold in the industry.”Automation in the Eindhoven factory played a key role in the company’s growth. While IGS nearly quadrupled its revenue over the past decade, the number of employees only increased from 70 to 100. According to Mertens, automation increases both efficiency and quality, while also making the lack of skilled workmen in the labour market less of a problem.

“The old-fashioned workman is slowly becoming obsolete,” Mertens added. “More and more, manual activities are being replaced with the controlling and programming of machines.”A trend in the market is to no longer develop new devices for every new medicine. Increasingly, pharmaceutical companies are opting for a design that is suitable for multiple medicines with only minor adjustments. IGS expects to benefit from this development in the coming years.

The company is preparing for the growth spurt to continue over the next decade. The mould maker is investing in machinery to expand capacity and introduce an office in the US to be closer to the fast-growing number of clients based in North America.