Wacker Neuson reported a 14.4 percent increase in third quarter revenues with £316.2 million (about U.S. $393.3 million) compared to £276.3 million in the third quarter of 2013. Sales of light and compact equipment were driven primarily by an upturn in business in North America and by the group’s broad sales platform in Europe. Wacker Neuson also announced plans to begin construction of compact equipment in the United States.
“The fact that we have been able to deliver such strong results in this uncertain and volatile climate is down to our unwavering commitment to our growth strategy,” said Cem Peksaglam, Wacker Neuson CEO. “Here we are focusing not only on diversifying our target markets but also on extending our international reach.”
All regions contributed to revenue growth in the third quarter. Europe’s revenue rose 14 percent, while North America and Asia Pacific leaped 16 percent.
“The U.S. construction industry is picking up,” Peksaglam added. “Demand is also rising among industrial firms and the energy sector in North America. This had a positive impact on the light equipment segment during the third quarte, with revenue generated from equipment such as generators, heaters, light towers and compaction equipment growing 12 percent relative to the prior-year period.”
Wacker Neuson is based in Munich with U.S. headquarters in Menomonee Falls, Wis.
