Vermeer is a well-known manufacturer of equipment for many industries, most of which have been deemed “essential” during the crisis caused by the coronavirus.
“We primarily serve markets such as agriculture, utilities, underground utility, construction, tree care and recycling. And then we have a group called special excavation,” explains Doug Hundt, president of industrial solutions at Vermeer Corp. “We’re fortunate that most of what we do – our products and the markets we serve - have been deemed essential business by the government. Once we understood that, we knew we had to keep going.”
He continued, “The biggest negative impact has been on products that are tied more to consumer spending. But on the flip side, both our agricultural business and our underground utility business have continued to be quite strong. Our underground construction products are in the hands of our customers every day, building out the five G network and the electric grid, gas, and associated distribution of energy. We’re also doing solar and a lot of renewables. Those industries continue to do well.”
Hundt adds that with so many people working and attending school from home right now, there’s been additional demand on digital infrastructure.