Last year’s market conditions and OEM factory shutdowns contrived to put a dent in 2020 revenues at the Carraro power transmission group, ending 13% down on the year before at €487 million ($569 million) — the lowest figure since 2009.
Drive components and specialist tractor manufacturer Carraro Group recorded its lowest turnover in 12 years in 2019 as its principal sectors, agriculture and construction, felt the effects of a general slow-down in the global economy.
Orchard tractor and OEM drivelines manufacturer continued on its recent growth trajectory in 2018, recording a 3% increase in revenues to €624 million ($703.6 million) despite a near 6% fall in tractor sales compared to the previous year.
Off-highway drivelines specialist Carraro Group is “reaping the fruits of a long and complex repositioning and restructuring process,” according to its board chairman as he reported a significant improvement in margins and profitability for the 2017 financial year.
A new R&D center and an additional assembly line for tractor transmissions was opened by Carraro in India shortly before the group announced a substantial investment in new production facilities at its Italian factories.
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In this episode of On the Record, brought to you by Associated Equipment Distributors, we talk to a Solectrac executive about the company's search for a new investor. In the Technology Corner, Noah Newman talks about the majors' growing presence in the precision retrofit market.