HAMBURG, GERMANY — Before the end of the year, NORD DRIVESYSTEMS said it will cross sales of 1 billion euros ($1.05 billion) for the first time.

“This shows how well our drive solutions meet the requirements of the various industries and how much NORD is valued by its customers as a reliable and competent partner,” said Gernot Zarp, managing director sales.

NORD develops and manufactures drive systems consisting of gear units, motors, and drive electronics for more than 100 industries. Providing customized solutions for a wide range of requirements is just as important to the drive specialist as increasing the energy efficiency of its systems and reducing the total cost of ownership (TCO) for its customers, it said.

An example of this is the IE5+ permanent magnet synchronous motor. This new NORD motor currently exceeds the highest defined efficiency class for motors.

“We also see the sales development as a recognition of the well-known NORD product quality,” Zarp said.

The company produces most of its components itself in its own production facilities all over the world.

“We take this positive event as an incentive for further optimization — in the interests of our customers,” he said.