“Strong demand” for agricultural products in North America is seen as key in raising 2009 sales to record levels for Winnipeg ag equipment firm Buhler Industries.
The company last week posted net profit of $14.4 million on $284.1 million in sales, up from an $11.7 million net on $219 million in sales in its 2008 fiscal year.
Sales, which rose 29.7 per cent year over year, “represent a record year for the company, despite the current economic downturn,” the company said in a release.
Buhler’s sales of short-line equipment “continue to do well,” the company said. But the company also expects a decline in overseas tractor sales, translating to overall lower sales expected in 2010.
Buhler, which in 2008 rebranded its entire tractor line under the storied Versatile brand name, announced recently that it would market all its equipment under either the Versatile or Farm King brands.
Buhler’s short-line products, including its grain augers, grain vacs, hay tools, and crop application equipment such as pull-type high clearance sprayers will now carry the Farm King brand name. Its well-known Allied brand is to remain on some equipment as “Allied by Farm King.”
Buhler, which became majority-owned by Russian combine manufacturer Rostselmash in a friendly takeover in 2007, has owned the Versatile brand since 2000, having bought it from CNH after the merger of Case and New Holland.