02/04/2021

2 April 2021
2 April 2021, Comments Comments Off on LAM SpA increased turnover in 2020 despite the COVID pandemic
LAM SpA increased turnover in 2020 despite the COVID pandemic

LAM SpA, the Italian company that has produced components for industrial and recreational vehicles for 40 years, achieved a growth in turnover in 2020, despite the challenges presented by the coronavirus pandemic.

The lockdown in Italy imposed a production shutdown for about a month at LAM’s plants in Italy and Belarus, and its 50 employees. Initially, LAM was concerned that turnover would drop because of the lockdowns in 2020, so the budget was revised; but in the third quarter there was an unexpected recovery and in the end, revenues reached €9 million – and increase of €1 million compared to the previous year.

“At the beginning of the reopening, the turnover forecasts were worrying. This was even more serious because we had just launched an important industrial plan and we feared that this would create many problems,” says Davide Malagoli, CEO of LAM.

Backed by considerable investments in facilities, machinery and training courses, LAM expanded its presence in the RV sector, where it has already been present for several years now supplying roof hatches and particularly sun blinds for the cab at the front of the customer’s vehicle. LAM was established in Italy towards the end of the 1960s, supplying hatches and awnings to one of the biggest Italian bus manufacturers.

“2015 marked an important milestone for the Company,” says Davide Malagoli, “because we invested in injection-moulding technologies. Prior to those investments, we would outsource the production of plastic parts to external companies and would then assemble them onto the RV. We invested in an innovative technology like glazing, a type of injection and compression moulding and large press that handles even the most complex machining processes”.

After these investments, the purchase of a new press in 2015 and the construction of a warehouse in 2018, the goal now is for further growth.

“We have reopened all the investment plans because we want to enlarge our production area by adding other injection molding machines. We hope that the policy of the Italian government will be able to restart some leading sectors such as construction and tourism, which also effect adjacent sectors and mechanics, ” continued Davide Malagoli.

For more information about LAM SpA: https://www.lamspa.it/en