Business Roundup: Vermeer Strong After Tornado; Komatsu 1Q sales up 15%; Strongco names Nachevski VP, COO; ALT Sales joins Manitex network; Volvo sales jump 32% in 2Q

Volvo CE sales jump 32% in 2Q on increased demand home and abroad

Volvo Construction Equipment is reporting a big second quarter, with sales up 32 percent over the same period in 2017.

Volvo says sales jumped to SEK 24.403 billion ($2.72 billion). The sales increase led to a huge increase in operating income, up 49 percent in the second quarter to SEK 3.675 billion ($410.7 million).

Each of the company’s major markets saw sales increases following more demand for equipment, the company says. Europe rose 8 percent; South America is up 28 percent; Asia, excluding China, rose 19 percent; while the Chinese market rose 47 percent.

 

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Strongco names Nachevski VP, COO

Strongco has named Oliver Nachevski, formerly vice president of Construction Equipment, to the position of vice president and a newly created position, chief operating officer (COO).

“Over the past several years, Strongco has undergone significant change in an effort to reposition the business and focus on our core strengths,” says Robert Beutel, Strongco’s executive chairman. “The creation of the COO role will provide more centralized leadership, with the goal of delivering greater operational excellence during the next phase of stability, sustainability and strategic growth.”

 

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ALT Sales of Ohio joins Manitex articulating crane dealer network

ALT Sales, headquartered in Richfield, Ohio, is the newest retail distributor in the Manitex articulating crane distribution network, which is rapidly growing in the United States and abroad.

With more than $1.7 billion in global annual sales, Manitex International is a leading international provider of truck and knuckle boom cranes.

 

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Komatsu sales up 15% on strong North American demand

Komatsu has announced earnings from the first quarter of the equipment maker’s fiscal year 2018, reporting sales and profit increases with strong demand from North American customers.

For the three months ending June 30, Komatsu net sales increased 15.1 percent over the same period in 2017 to 646 billion Japanese Yen ($5.8 billion). Construction, mining and utility equipment accounted for JPY 594 billion ($5.3 billion) of the company’s sales.

Profit during the quarter nearly doubled, rising 83.4 percent to JPY 96 billion ($863 million.)

 

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Vermeer After the Tornado: Parts center open next day, expect full production recovery in 30-45 days

Vermeer has made “great progress” in resuming customer support operations after the Pella, Iowa, firm suffered major damage in a June 19th tornado, says Doug Hundt, Vermeer’s president of Industrial Solutions.

After assuring the safety of Vermeer team members — as well as around 400 dealers and customers celebrating the firm’s 70th anniversary — Hundt says re-establishing the company’s parts center operations was a priority. “The day after the storm, we were able to ship emergency parts, minimizing the impact to our customers,” he says.

Hundt attributes “years of training and practice” to the fact that the dealers and customers on site were safe and quickly accounted for after the storm hit.

 

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