JCB OFFICIALLY MARKS 65th ANNIVERSARY AS ROBUST EARNINGS RESTORED

JCB officially marked its 65th anniversary yesterday by presenting thousands of employees around the world with gifts to mark the occasion. The milestone was celebrated as JCB also reported a strong recovery from the deepest-ever recession in the global construction equipment industry with a return to robust earnings.

Employees received a bottle of Château Léoube rosé wine, two glasses and a DVD highlighting the global footprint of a company, which started life in a lock-up garage in Uttoxeter. The celebration took place today (June 21st) to coincide with the 95th anniversary of the birth of JCB’s Founder, the late Joseph Cyril Bamford.

JCB Chairman Sir Anthony said: “In 65 years we’ve gone from one man in a garage in Uttoxeter, Staffordshire, to a major global brand renowned for its pioneering spirit. All of this is down to our people. JCB is on the threshold of even greater success and it’s our employees who will help drive our future.”

Today JCB also reported that in 2010 earnings before interest, tax, depreciation and amortization (EBITDA) reached $376 million ($151.2 million – 2009). Sales in 2010 increased by 48 per cent to $3.2 billion ($151.2 billion – 2009) and in 2010 JCB sold 51,600 machines (2009 – 36,000 machines).

Sir Anthony Bamford said: “We started 2010 cautiously optimistic about trading prospects and I’m delighted that our optimism was rewarded with a very strong result for the year. The pace and strength of the recovery varied by market. Growth was strongest in the ‘BRIC’ countries and other developing economies, but some established markets, notably the UK and Germany, also performed satisfactorily.

“2011 has also started well for the JCB Group but we are still mindful of economic concerns which could hold back the recovery. We continue to invest in our manufacturing facilities, notably this year in India and Brazil and, of course, in new products, with 13 new machines launched so far in 2011.”

In 2011 JCB will be investing more than £20 million in modernizing and increasing capacity at its 11 UK plants. The company is also investing in a new 350,000 sq ft factory in Sao Paulo, Brazil, for the manufacture of backhoe loaders and tracked excavators. The plant will become operational in early 2012. The company has also opened an engine manufacturing plant in India which went into production this year.

JCB Employees receive 65th Aniiversary gifts

JCB Chairman Sir Anthony said: “In 65 years we’ve gone from one man in a garage in Uttoxeter, Staffordshire, to a major global brand renowned for its pioneering spirit. All of this is down to our people. JCB is on the threshold of even greater success and it’s our employees who will help drive our future.”

Today JCB also reported that in 2010 earnings before interest, tax, depreciation and amortization (EBITDA) reached $376 million ($151.2 million – 2009). Sales in 2010 increased by 48 per cent to $3.2 billion ($151.2 billion – 2009) and in 2010 JCB sold 51,600 machines (2009 – 36,000 machines).

Sir Anthony Bamford said: “We started 2010 cautiously optimistic about trading prospects and I’m delighted that our optimism was rewarded with a very strong result for the year. The pace and strength of the recovery varied by market. Growth was strongest in the ‘BRIC’ countries and other developing economies, but some established markets, notably the UK and Germany, also performed satisfactorily.

“2011 has also started well for the JCB Group but we are still mindful of economic concerns which could hold back the recovery. We continue to invest in our manufacturing facilities, notably this year in India and Brazil and, of course, in new products, with 13 new machines launched so far in 2011.”

In 2011 JCB will be investing more than £20 million in modernizing and increasing capacity at its 11 UK plants. The company is also investing in a new 350,000 sq ft factory in Sao Paulo, Brazil, for the manufacture of backhoe loaders and tracked excavators. The plant will become operational in early 2012. The company has also opened an engine manufacturing plant in India which went into production this year.