Sany America posted its first profitable quarter in the first three months of 2013, after nearly doubling its revenue in 2012. The company expects strong sales of cranes and excavators to bring full-year profitability in 2013. During 2012, crane sales increased 85 percent. In just the first two months of 2013, excavator orders topped total 2012 sales by more than 50 percent.
“We have planned for growth, and those plans are now bearing good fruit,” said Tim Frank, chairman of Sany America. “We had a very good year in 2012 with machine sales and expansion of our distribution network. We’ve put a strong foundation in place in North America. We’re confident that 2013 will bring full-year profitability and see us potentially double revenue again.”
During 2012, Sany America introduced a 550-U.S. ton crawler crane with an automatic counterbalance system, an UltraLift option and ease of transport similar to a 440-ton crane. New crawler and rough-terrain cranes will be introduced in 2013, the company said. Also last year, the Earthmoving Group established an excavator assembly line at Sany America’s Peachtree City plant. The company expects to triple its excavator dealer network by the end of 2013.
“Our focus will continue to be on product innovation, expansion of our distribution network and expanding our product lines based on customers’ needs,” added Frank. “We’ll also continue to examine other avenues for growth, including acquisitions and joint ventures.”
