Farsoon Technologies reports strong revenue growth despite COVID-19 challenges
October 12, 2020
Farsoon Technologies, headquartered in Changsha, Hunan, China, reports that it has seen a doubling of revenue in the Chinese market during the first three quarters of 2020, compared to the same period in 2019. The company added that it expects this will continue, with a significant growth rate until the end of the year.
According to Farsoon, in the latter half of 2019, with the rapid growth in industrial Additive Manufacturing applications in China, the company made significant progress with increasing sales orders in major industries such as aerospace, manufacturing, and moulding – resulting in a strong revenue contribution to the first three quarters of 2020.
A key part of the company’s revenue growth in 2020, is said to be the success of its large-frame metal systems including the FS621M, with abuild platform size of 620 × 620mm and vertical axis of 1.1 metre, and the FS421M with a build platform size of 425 × 425 × 420 mm.
To date, multiple FS621M systems have been installed at various Chinese large-scale manufacturing customers; and the FS421M is reported to have an accumulative sale of over thirty systems globally.
Earlier this month, one of Farsoon’s industry partners Falcontech had received its twentieth Farsoon metal system, of which nineteen are large-format Farsoon FS621M and FS421M systems. Falcontech reportedly has a target of fifty machines for the company’s proposed Super AM Factory expansion plan.
Farsoon explains that after the impact of the coronavirus (COVID-19) pandemic in China during early February, it has seen a return to normal operations in Q2 and Q3. The Chinese AM market is said to have seen a good recovery with increasing sales orders and the company’s production operations have expanded to meet growing demand with multiple shifts working seven days a week to meet machine delivery dates. In addition, Farsoon headquarters is planning a large-scale expansion of production facilities in 2021.
In the global market, despite the COVID-19 pandemic and economic crisis, Farsoon Europe GmbH had achieved revenues equal to that of the previous year by the end of July, 2020. Farsoon Americas has seen increased business during the second half of 2020 and has actively expanded sales and support capabilities to better serve its North American customers.
Despite the economic challenges in 2020, Farsoon states that it is eager to support its customers and partners both in China and globally to fulfil their needs during these challenging times. With growing production capacity and support capability, the company is said to be confident in growing the Additive Manufacturing market going into 2021.
