VTI Technologies Announces Record Sales in 2010
VTI Technologies, a leading supplier of 3D MEMS sensors announces excellent results for 2010. The Group’s net sales increased by 42 percent and totalled EUR 75.8 million (EUR 53.6 million in 2009).
“Following the global economic downturn, demand picked up in all of VTI’s main business areas and VTI’s MEMS solutions were selected for several important customer projects. The total market for MEMS components increased by 18% to USD 7 billion in 2010 according to iSuppli. VTI Technologies maintained its strong position among manufacturers of MEMS based products”, says Mr. Markku Hirvonen, President and CEO of VTI.
VTI is the market leading manufacturer and supplier of sensitive (low-g) acceleration and inclination sensors to the global automotive industry, which experienced strong growth in 2010. Car production volumes increased by 25% compared to 2009, and growth in this business area is expected to continue during the coming years. In addition to car production volumes, key growth drivers for VTI are the penetration of vehicle stability control systems in produced cars and VTI’s competitive product offering. Vehicle stability control systems are becoming mandatory in all of VTI’s main market areas, and VTI is simultaneously expanding its product offering to cover both acceleration and angular rate measurement.
VTI is the leading sensor supplier for activity monitoring in cardiac rhythm management (CRM) applications, and in 2010 demand for healthcare applications remained strong. MEMS applications in healthcare devices are expected to increase substantially over the next few years. Rapid recovery was also seen in the instrument market.
Consumer electronics was the fastest growing MEMS market in 2010. The penetration of MEMS-based sensors - angular rate sensors in particular - in consumer electronics products is expanding, and the segment’s market potential has grown significantly. At the end of 2010 VTI introduced its 3-axis angular rate sensor for consumer products to meet the increased market opportunity. VTI also announced that it is developing a MEMS-based timing device.
VTI in Brief
VTI Technologies is a leading supplier of acceleration, inclination and angular motion sensor solutions for transportation, medical, instrument and consumer electronics applications. In their end-use applications, VTI’s products improve safety and quality of life. The silicon-based capacitive sensors are based on the company’s proprietary 3D MEMS (Micro Electro-Mechanical System) technology. For more information and for VTI’s Financial Statements 2010, please visit www.vtitechnologies.com.
Mrs Mirja Lammi, CFO, tel. +358 9 879 181
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