Skyjack contributes to 127% sales growth

The Industrial division of Canadian company Linamar which includes Skyjack has returned to profit increasing its Q2 (second quarter) sales by 127% in 2011 compared to 2010 to CN$100 million. Having most impact on the Skyjack business was the significant increases in demand for access equipment from fleet replacement.

The profit for the industrial segment was CN$0.5 million in Q2 recovering from a CN$3.3million loss for the same period in 2010. The company reported that this was predominantly driven by margin improvements on the increased volumes in the access equipment market and the European Fabrication Division and partially offset by margin reductions as a result of continued investment in labour and fixed overhead costs at Skyjack to support the future growth in the market.

Overall Linamar's sales increased 30.7% (to CN$742.7 million) in Q2 2011compared to 2010.

Linda Hasenfratz, Linamar's chief executive officer said, ""We are extremely pleased with our second quarter results which are driving us towards a record year in 2011. Sales and earnings are up substantially again in double digits despite flat global vehicle markets, content per vehicle is growing in every global centre and we continue to see great opportunities in the vehicle market place as evidenced by our considerable launch book that just keeps growing. And of course we couldn't be more pleased to see our Industrial segment at long last reach a profitable position after a long period of losses."