Alamo Group announces that Tom Taylor has been appointed vice president-specialty markets in the company’s Agricultural Division. The newly formed group is made up of Herschel Ag Parts, located in Indianola, Iowa, as well as Fieldquip PTY LTD of Australia and Santa Izabel Implementos located in Brazil.
Alamo Group Inc. (ALG) reported record net sales for a third quarter of $271.8 million, up 5.5% for the third quarter ended Sept. 30, 2019. By operating segment Industrial Division net sales of $158.5 million were up 1.1%; Agricultural Division net sales of $59.8 million were down 2.7%; European Division net sales of $53.5 million, up 35.9%.
RhinoAg plans to begin production of some of the most popular Dixie Chopper models — such as XCaliber and Classic mowers — as quickly as possible at its Gibson City, Ill., factory.
Net sales, net income and earnings per share were all at record levels for Alamo Group for the second quarter and for the first 6 months of 2019, both with and without the effects of the acquisition of Dutch Power.
Alamo Group's net sales for the first quarter of 2019 were $261.9 million compared to net sales of $238.1 million in the first quarter of 2018, an increase of 10%. Net income for the quarter was $15.3 million compared to net income of $14.6 million, an increase of 4.6% in net income.
Alamo Group reported net sales for the fourth quarter of 2018 were $256 million compared to net sales of $243.3 million in the fourth quarter of 2017, an increase of 5.3%.
Dutch Power Co. designs, manufactures and sells a variety of landscape and vegetation management machines and attachments under several different brand names. Alamo Group is set to acquire 100% of the outstanding capital shares of the company.
In this episode of On the Record, brought to you by Associated Equipment Distributors, we have reports from both the Farm Equipment Manufacturers Supply Summit and the North American Equipment Dealers Association's Legislative Fly-In.
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