Armtec Precast operations log double-digit sales gains, support +2014 outlook
- Written by Concrete News
Source: Armtec Infrastructure Inc., Guelph, Ontario
The Precast Concrete Solutions business of Armtec Infrastructure reports third quarter sales of $84.3 million, up 12 percent over the same period in 2012; sister Drainage Solutions finished the July–September 2013 period with $60 million in sales, flat compared to the prior year.
With strong presence across Canada through A.E., Boucher, Brooklin, Con-Force, Pre-Con and other brands, the Precast Concrete Solutions business helped Armtec Infrastructure boost 2013 Q3 revenue to $145 million, nearly 7 percent higher than the same period last year. Bridge, sound wall, architectural, paver and other precast product sales also helped Armtec Infrastructure maintain year-to-date revenues of $347.6 million, matching figures for the first nine months of 2012. Precast Concrete Solutions accounted for $224.1 million in year-to-date sales, up 10.3 percent compared to the January–September 2012 period. Drainage Solutions, a business weighted in HDPE and galvanized steel products, recorded $123.5 million in year-to-date revenues, down 13.5 percent against 2012 figures.
“Armtec delivered solid financial results with higher revenues due to improved engineered precast volumes in the Pacific, Central and sound wall market areas. Despite a slight recovery in the third quarter, results for the Drainage business unit remained below expectations,” says CEO Mark Anderson. “Overall, fourth quarter revenue is expected to be slightly higher than 2012 on the strength of the Precast business unit performance from large infrastructure projects in Central and Western Canada. Looking ahead, precast market activity is expected to remain solid given the anticipated level of construction and infrastructure activity throughout Canada over the next two years.”