VTI Technologies continues to grow, posting successive record sales and growth figures. 2011 saw VTI’s turnover grow by 18 percent to 89.3 million euros, with the market for MEMS components – VTI’s main produce – growing by US$7.97 million.
VTI claims that demand for MEMS products continues to rise in the automotive sector, particularly in the development of traction control and vehicle stability systems. VTI also states that the demand for MEMS based sensors and applications within the medical profession is rising in accordance, a trend that is only going to continue due to aging populations and increasing healthcare costs.
“VTI had its strongest year to date in 2011 in terms of turnover. We achieved record high sales primarily due to the strong demand in automotive and customized products. VTI’s sensors were selected for several major customer projects, and especially in medical applications demand continued strong throughout the year,” says Mr. Markku Hirvonen, president and CEO of VTI Technologies.