RERMAG

Skyjack Parent Posts Q4 Increase Despite Continued Aerial Softness

Linamar, parent company of aerial work platform manufacturer Skyjack Inc., posted a 7.3-percent increase in revenues in the fourth quarter compared with the third quarter with sales of CA$451.9 (about U.S. $438.6 million) compared with third-quarter totals of CA$421.1 million. Sales decreased 5.2 percent compared with the fourth quarter of 2008 when it totaled CA$476.7 million.

Sales for the powertrain/driveline segment increased by CA$58.4 million or 15.4 percent in the fourth quarter to $437.6 million, compared to $379.2 million in the third quarter of 2009. The increase was the result of improved powertrain volumes driven from Ford, General Motors and Chrysler.

Sales in the industrial segment, however, which includes Skyjack, decreased 65.9 percent in the fourth quarter to $14.3 million compared to $41.9 million in the third quarter. The segment includes Skyjack, consumer products and industrial fabrication.

“Q4 ends a very challenging year for Linamar and the industries in which we operate,” said Linamar CEO Linda Hasenfratz. “But we have ended it on a very positive note with a strong fourth quarter and another excellent quarter of cash generation. This allows us to enter the new year with a strong balance sheet, poised to take advantage of opportunities as they arise.”

Linamar is based in Guelph, Ontario, Canada.

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