Belgium’s Punch Powertrain has once again been crowned a ‘Trends Gazelle’ of the province of Limburg. Over a 10-year period the Sint-Truiden-based company’s workforce is set to complete a rise from 152 to 1,200 employees.
The Belgian specialist in the development and manufacture of automatic transmissions is no stranger to awards. For example, in 2015 Punch Powertrain was named Factory of the Future, as the fastest-growing Trends Gazelle in the province of Limburg, and was distinguished as a Trends Business Tour company for its innovative and sustainable working methods. The company has also won a number of awards for its entrepreneurship.
The most prestigious recognition
A spokesman said: “This is probably the most prestigious recognition of our company and employees, and it is the result of years of effort and persistence with the company’s strategy.”
Trends Gazelles are companies ranked for growth in their sales, workforce and cash flow over a 5-year period. For instance, over that period Punch Powertrain grew from 152.3 to 325.5 employees, an increase of 173.
But its workforce is in for a further dramatic increase. “Our workforce is set to rise from its present level of 670 employees to over 1,200 by 2020″, Punch Powertrain CEO Cor Van Otterloo told Trends.
More than 250,000 transmissions
In 2014, the company sold more than 135,000 transmissions. “This year, Punch Powertrain plans to manufacture more than 250,000, nearly doubling its output. And sales should follow suit”.
The company owes this success to its speciality: automatic transmissions for smaller cars and its focus on the burgeoning Asian market, especially China, where one positive factor is that growth in the small car segment is outstripping the expansion of the overall Chinese automotive market.
Investing €400 million in growth
Over the next five years, Punch Powertrain will invest €400 million in further growth. The company is also probing new markets in India and North and South America.
Its customers include China’s BYD, Malaysia’s Proton and Geely, the Chinese owner of Volvo.