Linamar, the parent company for aerial work platform manufacturer Skyjack, posted an 18.9-percent sales increase in the second quarter of 2014, with CAD $1.105 billion (about U.S. $1 billion), compared to $929.4 million for the second quarter last year. The Industrial segment, primarily comprised of Skyjack, increased sales by 20.5 percent or $37.5 million to $220.4 million in the second quarter compared to last year’s second quarter.
The company said the increase is the result of greater demand in the access equipment markets in both North America and Europe. Operating earnings in the second quarter increased $13 million or 52 percent year over year, which the company attributed to increased demand as well as productivity and efficiency improvements driven by higher volumes on new products and costs savings initiatives on mature products.
The company also noted a more favorable impact of the stronger U.S. dollar on margins in comparison to Q213. This benefit was partially offset by management and marketing costs supporting growth.
Linamar’s Powertrain/Driveline segment also fared well, increasing by $138.2 million or 18.5 percent in the second quarter compared to the year-ago quarter.
Linamar Corp. is based in Guelph, Ontario, Canada.