Merlo commited to in-house product development

Speaking to Access International, Mr Merlo said "Our primary objectives are the quality of our machines, safety in working conditions, innovative products and strengthening our position in world markets.

"We pursue these objectives with continuous investment in research and development both in products and in processes. In the next two years we will invest 9.5% [turnover] each year."

Mr Merlo said it respected other manufacturers' decisions to assemble their products rather than carry out the total build, but that was not Merlo's policy.

"Merlo has always been different," he said, "choosing to develop internally the know-how for its products and processes.

"We are very satisfied about this choice, it is certainly more difficult, but that allows us to have quicker responses and control over the processes."

Merlo is expected to launch new machines this week, of which more information soon.