EM has represented European manufacturers of materials handling, lifting and storage equipment since it was founded in 1953. FEM is a non-profit trade association (AISBL under Belgian law) permanently based in Brussels to better represent its members and their interests vis-à-vis the European institutions and European partners. FEM membership currently consists of 13 National Committees from Member States of the EU, as well as Switzerland and Turkey. They are the driving forces in promoting a common vision for FEM industries and in maintaining the European materials handling, lifting and storage industry's position of leader on the world market. The European industry has an annual turnover of around 45 billion euros. In total, FEM represents more than 1,000 companies with about 160,000 employees, covering around 80% of all eligible European companies. It thus accounts for more than half of the world's total production.