JCB announce major overseas investments
Company increasing manufacturing capacity in Brazil and India as 2010 sales surge by 48%
JCB have announced a series of major investments and expansions to take advantage of global market growth as the company reported a 48% increase in revenue for 2010.
JCB chairman Sir Anthony Bamford revealed that, in 2010, JCB’s revenue was £2.0 billion, up from £1.35 billion in 2009, and the company sold 51,600 machines, compared with 36,000 in 2009.
‘Last year saw a welcome return to growth for JCB, with an increase in our worldwide sales of almost 50%, which is a tremendous achievement in a very competitive market,’ he said.
Sir Anthony also announced that JCB are to build a new £63 million factory in Brazil, which will produce excavators and backhoe loaders, while JCB India has invested £19 million in a new engine plant in Ballabgarh, Delhi.
‘With markets growing so rapidly, the time is now right for us to enhance our already strong presence in Brazil and, as a result, I’m delighted to announce that we are building a new factory for the production of excavators and backhoe loaders.
‘Similarly in India, a successful market for JCB for more than 30 years, we have invested in an engine production facility which means our Indian customers now benefit fully from the performance and reliability of our world-beating engine for the first time.’
The 32,000 square metre factory in Brazil is being built in Sorocaba, a few miles from JCB’s existing Brazilian factories. The company has been producing backhoes in Brazil since 2001 and excavators since 2010.
Meanwhile, JCB enjoyed a record year in India in 2010, selling over 21,000 machines. The construction of the new engine factory means it is the first time the company has produced its Dieselmax engines outside its UK plant in Derbyshire.
In addition, a total of £18.3 million has been invested in the expansion of JCB’s global service back-up, with the company about to open its sixteenth parts warehouse in Prague, to serve Central Europe and Poland.
This follows the opening of a parts warehouse in Dubai to serve the Middle East and North-East Africa, and a new facility in Fontana, California, to serve dealers and customers on the US west coast.