Despite mixed fortunes for agriculture in different parts of the world, the Kuhn Group recorded a 12% gain in net sales during the 2018 financial year ended December.
The company announced it has signed an agreement for the purchase of all outstanding shares of Artec. Kuhn Group has been a minority shareholder of Artec since 2008.
During the first half of its financial year, Kuhn Group has seen a positive trend in agricultural equipment orders and sales, but managers highlight political and weather-related issues that could have a negative impact over future months.
As reported in the March issue of Ag Equipment Intelligence, several manufacturers of farm machinery and components registered solidly better sales in 2017 than the previous few years and are looking for more of the same this year.
Although Kuhn Group performed significantly better than the overall market in 2015 thanks to good positioning in Europe and U.S., its managers say it could not escape the effects of a sharp downturn in the agricultural sector.
Substantial investment in the Kuhn manufacturing facility in Brodhead, Wis., will improve internal workflow and processes, expand capacity and bring a new, dedicated powder and wet paint spraying facility to the site.
Fueled in part by its growing North American sales, the Kuhn Group reported that, while its net sales in 2013 grew by 5% vs. the previous year, its profits rose by nearly 25% and profit margins increased by 2.5%.
Managers at its parent company Bucher Industries credited Kuhn Group with achieving ‘outstanding profitability’ when it reported record results for the Swiss group and its agricultural equipment division.
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