Norrhydro eyes EUR 35m turnover in 2020

Norrhydro, a Rovaniemi-based hydraulic cylinder and energy-saving hydraulic system manufacturing company, aims to reach a 35 million annual turnover by 2020 through introducing its newly invented intelligent motion control solution called NorrDigiTMto the US oil market.

The new hydraulics solution offers a wide range of benefits such as energy saving, flexible solutions, reduced component costs, reduced maintenance costs, and increased performance for various mobile and industrial applications, company sources said.

“The new technology solutions will almost double our sales and we are expecting a turnover of 35 million euro by 2020,” Norrhydro CEO Yrjö Trög told the Daily Finland in an exclusive interview.

Norrhydro’s turnover last year was 18.1 million euros.

“The main goal is to promote the patented solution NorrDigiTM which uses variable displacement cylinders and provides up to 80% energy recovery. Its main applications are in construction, material handling, and oil and gas [sectors],” Trög said.

Detailing the huge demand for such technology in the oil and gas sector, Trög said there are about 500,000 pumping stations across the globe and the machines and technologies the company has developed will consume 50 percent less energy.

He estimated a huge global market of about EUR 3 billion considering the possibilities of technologies like NorrDigiTM.

Norrhydrocame into operations in 1985 with a mission to create customer-oriented and environment-friendly hydraulic solutions for various applications, company officials said. This is achieved by manufacturing hydraulic cylinders and energy-saving hydraulic systems that are based on intelligent motion control.

They termed the NorrDigiTM product family a revolution in hydraulic technology.

Norrhydro, which now employs 120 people, is based in Rovaniemi where the management, administration, and cylinder production lines are located, while its Tampere unit is responsible for product development of the NorrDigiTM product family.