Kobelco Cranes Sales Increase By 200 Units

19 March 2008

Manufacturer Kobelco Cranes sold about 730 cranes in fiscal 2006 (1 April 2006 to 31 March 2007), up 38% or 200 units, on the 530 units sold in fiscal 2005.

Total net sales were Yen 56.407 billion (US$461 million), 42.1% up on the Yen 39.684 billion ($324 million) in 2005. Net income was up 132.7% to Yen 2.971 billion ($24 million) from Yen 1.277 billion ($10 million) in 2005.

Higher sales volume of Kobelco branded cranes in North America, Europe, Asia including Japan, and the Middle East also contributed largely to higher profits, according to the Japanese manufacturer. About 80% of the crawler cranes sold were exported.

In outlook Kobelco said, “In fiscal 2007 world demand for cranes is anticipated to continue being firm. Although the high demand in North America seems to have slackened slightly, investment in energy related infrastructure will continue to be strong in the Middle East. However, the higher cost of materials, due to higher steel costs and crude oil placing a downward pressure on profits, continues to be a cause for concern.

Kobelco forecasts 2007 net sales to increase 17% to Yen 66 billion ($539 million).

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