Insight

Welcome to the 2024 Janus Perspective, a unique feature that includes a wide cross section of global fastener business leaders. Named after the Roman God 'Janus' – who had the ability to look to the future and to the past, and was often depicted with having two faces – this feature brings together thought leaders from every facet of the industry, from around the world, to give us their retrospective on 2023, as well as prospects and challenges for 2024.

Guido Grandi, CEO

2023 was a year with a lot of changes in our industry, changes that have brought challenges and new beginnings for NORMA Group. The new year will also open up further business opportunities in our three business areas of mobility, industry and water.

In 2023 we received new orders in the growth markets for drainage, irrigation, water supply and heat pumps, as well as for alternative drives and battery cooling. Our automotive joining technology is suitable for all drives and we were especially proud to receive our, so far, biggest order for hydrogen vehicles a few months ago. These positive developments show that we are strategically well positioned with our focus on the megatrends of resource scarcity and climate change. Our products help our customers reduce emissions and efficiently use scarce resources, such as water. We also supplied our customers with outstanding connector and tube systems for general industry applications over the year.

For me personally, the year 2023 marked an important beginning, as I took on the position of CEO at NORMA Group in the middle of the year and I am still impressed by the first meetings with employees, customers, suppliers and investors. It is truly a dedicated and intriguing community working on strong and safe joining technologies. NORMA Group is a technology leader with high strength in innovation for its core business areas. However, there were some tough challenges last year, some of them due to the aftermath of supply chain disruptions, others due to geopolitical tensions. Particularly in the first half of the year, we struggled with inefficiencies at some of our sites in Europe, resulting in production backlogs. We took decisive countermeasures and have now significantly improved our efficiency and product availability.

Water management business to expand

In recent years, we as a society have been facing extreme weather events around the world. Take, for example, the severe droughts in southern Europe last summer that were followed by heavy rain and floods. This reminds us that water is the most precious resource; at the same time, it can bring destruction when not properly managed. We expect that local authorities, as well as private homeowners, will increase measures to mitigate both water scarcity and rain floods. Adequate water management is not only crucial for the future of humankind, it is also our future at NORMA Group. We want to become the global leader in sustainable water management systems. That’s why all signs point to growth in this business unit – through our own efforts and through targeted acquisitions that will give us access to know-how and new markets. For instance, we have recently signed an agreement to acquire Teco Srl, an Italian water management company specialising in micro irrigation products. This method of irrigation is very efficient as it provides plants with a targeted and constant, though limited, amount of water. With this acquisition, we intend to expand our business with efficient drip irrigation in Europe. 

NORMA Group’s tube systems and joining technology ensure that water is transported to where it is needed without losses. Our expertise in water management goes beyond line systems and joining technology. We also work on systems for collecting rainwater and purifying wastewater. Our stormwater management products protect the landscape and buildings by ensuring efficient drainage and preventing flooding. This year, we will expand our business with stormwater management products globally, using our strong water business in the USA as a model.

Our industry keeps changing and we, as a company, need to adapt to these changes. NORMA Group’s established products, strong brands, and ability to innovate, continue to offer promising opportunities for growth. With our three strategic business units – Mobility & New Energy, Industry Applications and Water Management – we are well positioned towards future growth. We will continue to strive to be the best possible partner for our customers, suppliers and business partners – in 2024 and onwards.