Material handling equipment manufacturer Columbus McKinnon Corp., Amherst, NY, reported first quarter sales of $151.2 million, an increase of 6.9% over the same period a year ago. Profit was $9.7 million, up 2% from the prior year.
The company also announced an agreement to divest its Univeyor subsidiary, which as a unit reported a loss of $2.1 million for the current quarter.
CEO Timothy T. Tevens said: A key element of our growth strategy has been to drive the top line with investments in new markets around the world. These efforts are paying off with strong product and brand expansion, which is driving double digit growth in international markets. The growth is primarily from emerging economies in Eastern Europe, Asia and Latin America, as well as in the …
Columbus-McKinnon Sales Up 6.9% in 1Q
Material handling equipment manufacturer Columbus McKinnon Corp., Amherst, NY, reported first quarter sales of $151.2 million, an increase of 6.9% over the same period a year ago. Profit was $9.7 million, up 2% from the prior year.
The company also announced an agreement to divest its Univeyor subsidiary, which as a unit reported a loss of $2.1 million for the current quarter.
CEO Timothy T. Tevens said: A key element of our growth strategy has been to drive the top line with investments in new markets around the world. These efforts are paying off with strong product and brand expansion, which is driving double digit growth in international markets. The growth is primarily from emerging economies in Eastern Europe, Asia and Latin America, as well as in the …
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