Valmont Industries, Inc. has reported financial results for the fourth quarter and fiscal year ended Dec. 26.
Global sales from the company’s ag irrigation segment (25 percent of sales) increased by 49.8 percent year-over-year, due to higher volumes across all markets, particularly in the Middle East, partially offset by unfavorable currency impacts.
North American sales increased by 14.8 percent compared to 2019, due to higher volumes across all irrigation product lines, and higher industrial tubing sales.
International sales more than doubled year-over-year. The 120 percent sales growth was led by initial deliveries of the large multi-year Egypt project, higher volumes in South American and European markets, including continued strong demand in Brazil, and sales from recent acquisitions.
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