First publishedon www.AggBusiness.com
Tiltrotator attachment heavyweight Engcon has posted record 2018/19 financial year turnover
, a leading global quarrying and construction equipment market manufacturer of tiltrotators, has achieved record financial year turnover for the ninth consecutive year. The company’s April 1 2018 to March 31 2019 turnover and operating profit stood at £102.7 million and £17.3 million respectively.
Exceptional sales in the Netherlands and France were major contributors to the 2018/19 financial year success. Sweden-headquartered Engcon’s extensive commitment to continuous product development and subsequent range of safe and effective products were also said by the company to have been notable factors.
Krister Blomgren, CEO of Engcon Group, said: “At Engcon, we strive to not only create high quality tiltrotators but to also exceed our customers’ expectations with our customer service. Our aftersales service is unrivalled within the tiltrotator market. Our customer feedback consistently sees praise for the responsiveness, knowledge and helpfulness of our customer service agents.”
Approximately 2% of all excavators worldwide have a tiltrotator attachment, giving the market huge potential. However, Engcon predicts reforms within the construction industries of Japan and the US will create major challenges in the near future.
Blomgren added: “Safer and more efficient working conditions will be required in these key markets, creating an opportunity for Engcon to present its range of world class tiltrotators as a solution.”
One example of Engcon’s commitment to safety is its innovative Q-Safe quick hitch, which is considered to be one of the world’s safest hitches. Engcon recently announced it will focus solely on supplying this model of quick hitch, which eliminates human error.
Blomgren continued: “Our tiltrotators, automatic quick hitches and safety hitches are the answer to many of the safety challenges faced globally. We’re aiming to transform and streamline the excavator industry.”
Engcon says it currently has a 44% share of the tiltrotator market, and is well equipped to meet the increasing demands faced in the coming years. Furthermore, the company prides itself on its continuous internal investment, and believes that this helps it to maintain its customers’ loyalty.
Blomgren added: “We have streamlined our internal processes, and always reinvest our profits into the expansion of our production and delivery capacities, which ensures that we can stay ahead of changes in the market. Not only has this facilitated our success in 2018, but it will also add our continued development for years to come.”
In autumn 2019, Engcon will recruit additional key personnel, launch a number of exciting collaborations and standardise its safety hitches, which will further strengthen Engcon’s market position and add further value to excavator operators’ jobs.