Market News Family-run business continues to grow
Aaron Farrag becomes the new chief operating officer at FarragTech and is planning to extend production abroad.
Starting 1st September 2018, Aaron Farrag has taken over FarragTech GmbH, which is a manufacturer of peripheral devices for the processing of plastics. He is following in the footsteps of his father, Rainer Farrag, who founded the internationally active business in 2005. “I am very glad and proud that FarragTech will remain a family run business in the future,” explains Aaron Farrag, who, due to the change in leadership, moves up from operating officer to chief operating officer. “I am very excited about the new challenge. In recent years, the company has developed economically and is growing continuously. Our task now is to continue this positive trend,” says Farrag.
Therefore, the company in Wolfurt, Austria, will intensify their international focus, according to the new chief operating officer. “In a globalised world, it is more and more important to identify growth markets and to position oneself strategically including abroad,” explains Farrag. So, among other things, the plan is to set up an own production site in Australia, which will strengthen the market position on the continent and simultaneously shorten the distribution channels to the Asian market. Initial talks regarding this have already taken place.