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JCB Profits Grow, Company Adds New Jobs

Earthmoving equipment manufacturer JCB earlier this month reported record profits for 2005 of U.S. $202.9 million — double the figure for 2004.

“Last year was, without a doubt, the most successful in JCB’s history, when we set new records for profitability, production and turnover,” said JCB chairman Sir Anthony Bamford.

The company also reports a rise in global production to more than 45,000 machines, up 21 percent from 2004. Sales turnover for the year also increased to $2.62 billion, an increase of 23 percent. JCB also achieved a rise in global market share, from 8.6 percent to 9.6 percent. The company also reports moving up in the world rankings for construction equipment manufacturers, from fifth to fourth place by volume. Because of increased production, the number of employees at JCB increased by more than 600 throughout 2005 to 6,300.

“In 2001 we manufactured just 120 different products,” said John Patterson, managing director and CEO. “We have now more than doubled the models offered to 257. We therefore have the range of machines to push JCB to new heights and to build on the success we enjoyed in 2005.”

The company, which is based in Rocester, Staffordshire, England, with U.S. headquarters in Pooler, Ga., acquired Vibromax in Germany last year, which took it into the compaction equipment market. A third plant in India has also been completed in Pune, where excavators will be manufactured. JCB’s first Chinese factory in Shanghai has also been completed and will begin producing backhoe loaders and mini-excavators in October. The company now has 17 plants on four continents.

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