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HANOVER, Germany, April 24 (Xinhua) -- German mechanical engineering is in good position for Industry 4.0, which refers to current trend of automation and data exchange in manufacturing technologies, a German association said Monday.
"Industry 4.0 is the interface of industry and IT," said Carl Martin Welcker, president of Germany's Mechanical Engineering Industry Association (VDMA).
The world of connected and digitalized production is increasingly finding its way into the factories of mechanical engineering companies, Welcker said at the sidelines of the Hanover Messe 2017.
At the same time, questions of data and know-how protection and legal certainty still need clarification, Welcker said.
"Industry 4.0 must be more deeply anchored in company strategy. Qualified personnel are of vital importance. Data-based services and networked products allow for new business models. The financing of Industry 4.0 projects must be secured in the early stages," Welcker said.
According to the prediction of VDMA, production of the German mechanical engineering is expected to grow one percent year on year in 2017, after an increase of 0.1 percent to 203 billion euros (220 billion U.S. dollars) in real terms last year.
The Hanover Messe started on Monday, and will last until April 28. More than 6,500 exhibitors from 70 nations and regions are presenting technologies for tomorrow's factories and energy systems in an action-packed industrial technology showcase themed "Integrated Industry -- Creating Value".