‘Positive start’ to 2019 for giant that owns many hedge-cutter brands
US-based Alamo Group, which owns many of the hedge-cutter brands that we are familiar with here in Ireland, has reported record sales and income for the first quarter (January-March inclusive) of this year.
Founded in 1969, Alamo Group encompasses brands such as Bomford, Faucheux, Herder, McConnel, Rousseau, Spearhead, Twose and many others. In fact, the list is a veritable ‘who’s who’ of the hedge-cutter manufacturing world.
The company describes itself as a “leader in the design, manufacture and distribution of equipment for infrastructure maintenance, agriculture and other applications”.
Its product line-up includes: tractor and truck-mounted mowing and other vegetation maintenance equipment; street sweepers; snow removal equipment; vacuum trucks; and other industrial equipment.
Based in Texas
Alamo Group’s main offices are located in Texas (US). Its European headquarters are located in Salford Priors (England). Its member companies are dotted about the world – in North America, Canada, Europe, Brazil and Australia.
For the first quarter of this year, the group’s net sales were $262 million. The figure for the first quarter of 2018 was 10% less – at $238 million. Net income for the quarter was $15.3 million, compared to $14.6 million for the same period of last year.
However, the industrial equipment division accounted for much of the group’s improved fortunes. This division was up by about 20%, while its agricultural equipment counterpart was actually down by almost 10%.
A spokesperson explained: “The [agricultural equipment] division’s first quarter results were negatively impacted by lower farm incomes and general softness in the overall agricultural market, which resulted in a weak start to 2019 sales activity – particularly in the month of January.”
Amazingly, Alamo Group has made “more than 25 acquisitions over four decades”, including the many aforementioned hedge-cutter manufacturers.
The entity’s first products were based on “rotary cutting technology”. Over the years, it added “flail cutting and sickle-bar technology”.
Alamo Group went public in 1993. Since 1995 it has been listed on the New York Stock Exchange as ALG.