Serac, a French manufacturer of packaging machines, has broken the €100 million ($136.6 million) barrier.
Providing packaging machines for dairy products, detergents and edible oils, the company has registered 32% increase in consolidated sales, with a total of €120 million for the 2012-13 financial year.
Taking account of the 20% increase already chalked up in the previous financial year, revenue has increased by 60% in two years.
Serac expects to reach its 2017 target of €140 million, which is one of the objectives of its five year strategy.
It also expects to see weaker overall results in the next two years and is counting on the launch of its latest design, a polyethylene terephthalate bottle blowing-filling-capping machine, to boost sales and help meet the target.
The company says the dairy market has had a positive influence on its business performance and international presence.
The dairy product market, which accounts for 45% of sales of machines and related services on average over the last four years, is still growing.
Serac says much of this increase can be attributed to a rise in sales of aseptic bottled milk packaging machines within the EMEA and the growth of Greek yoghurt cups in the US.
Serac earns almost 90% of its revenue overseas.
It opened an office in Jakarta, Indonesia earlier this year.
