Haulotte Group Has Announced a 23 Percent Increase in Sales to 306.9 Million for 2011

Haulotte Group has announced a 23 percent increase in sales to €306.9 million for 2011, driven by a doubling of sales in North America and increases of 77 percent in Latin America and 48 percent in Asia. However, the company said continued weakness in southern European markets had led it to close its Santander facility in Spain - where it makes telescopic handlers and its special backhoe loaders - and transfer production to other European sites. Haulotte made a net loss of 9 million for the year - considerably less than the €42.2 million net loss in 2010 - but the company said it made an operating profit in the second half of the year. Haulotte's sales in 2011 were €306.9 million ($402.6 million), compared to €250 million ($328 million) in 2010. "The strong positive orientation of the emerging markets and the resumption of investment by major European rental companies should allow a double-digit growth in 2012 sales and generate a positive operating income, " the company said. "Nevertheless, to cope with the persistent weakness of the Southern European markets and the need to adapt its industrial resource, Haulotte Group has decided to close its Spanish production unit in Santander and transfer all the products manufactured at this plant to the other European production sites. " "The slight increase in sales prices on new machines covered the majority of the increase in raw materials, " the company said. Source: khl.com