JCB this week officially celebrated its 65th anniversary by presenting thousands of employees around the world with gifts. JCB also reported a strong recovery from the deepest-ever recession in the global construction industry with a return to strong earnings. JCB reported that in 2010 EBITDA was $376 million, compared with $151.2 million in 2009. Sales in 2010 increased by 48 percent to $3.2 billion and in 2010 JCB sold 51,600 machines compared with 36,000 in 2009.
Employees each received a bottle of Chateau Leoube rose wine, two glasses and a DVD highlighting the global footprint of the company which began in a garage in Uttoxeter, Staffordshire, U.K. The celebration coincided with the 95th anniversary of the birth of JCB’s founder, the late Joseph Cyril Bamford.
“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,” said JCB chairman Sir Anthony Bamford. “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.”
In regard to the strong financial results, 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 U.K. 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.”