Linamar, which acquired member company MacDon in 2018, recently reported its earnings for the first quarter.
Sales were up 15 percent from last year.
Normalized net earnings soared by 133 percent driven by strong sales growth as well as cost reduction and government support program.
Commercial and industrial sales were up 25.2 percent in the quarter, mainly due to strong MacDon performance, although Skyjack is now seeing growth compared to last year as well.
MacDon drove much of the industrial segment growth over the last year, according to President, Chairman and CEO Linda Hasenfratz.
Double-digit growth is expected in core North American and European markets in 2021 and 2022.
In agriculture, Hasenfratz said the company has “a very optimistic outlook in North America in particular for double- digit growth this year after a soft 2020.”
“MacDon continues to build market share in international markets with strong growth and market share growth in all of Australia, South America, Europe and CIS over the last 12 months,” she said. “Order intake is significantly ahead of last year at this time indicating double-digit sales growth for MacDon this year as well as an expectation of continued growth in 2022.”
Member Since 1980 | macdon.com