JCB has 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 JCB's revenue in 2010 was $3.2 billion (£2.0 billion) up from $2.2 billion (£1.35 billion) in 2009. In 2010 JCB sold 51,600 machines compared to 36,000 in 2009.
Sir Anthony also announced that: In 2010 JCB strengthened its position as the World Number One for backhoe loaders and Loadall telescopic handlers JCB is building a new $100 million (£63 million) factory in Brazil which will produce excavators and backhoe loaders JCB India has invested $30 million (£19 million) in a new engine plant in Ballabgarh, Delhi JCB is launching 13 new products at an international trade show in the USA today.
Sir Anthony Bamford said: "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.
"One thing that sets us apart as a privately-owned, family company is that we take a long-term view and can make decisions quickly. 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 in Brazil 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 JCB's world-beating engine for the first time."
The 350,000 ft² (32,000m²) factory in Brazil is being built in Sorocaba, a few miles from JCB's existing factories. JCB has been producing backhoes in Brazil since 2001 and excavators since 2010.
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 JCB has produced its Dieselmax engines outside of its UK plant in Derbyshire. The engines are being used in Indian-built JCB products and from next month every JCB backhoe loader made in India will be powered by a JCB engine to meet new local emissions legislation.
A total of $30 million has been invested in the expansion of JCB's global service back-up, with the company about to open its 16th 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 west coast.
At the Conexpo construction equipment show in Las Vegas, USA, today JCB also unveiled the first models in a new range of 18 skid steer and compact track loaders designed, engineered and manufactured at JCB's North American HQ in Savannah, Georgia as part of a $40 million investment; a new 10,000lbs (4.5 tonnes) JCB 950 rough terrain forklift; new 1CX backhoe loader, including an innovative tracked variant; the new JCB 512-56 Loadall telescopic handler developed for the North American market and the new JCB Workmax 800 D 4x4 utility vehicle.
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JCB is also leading the way in the development of fuel efficient machines and on show at Conexpo is the recently launched backhoe loader, which has achieved average fuel savings of 16% at typical work rates. The new generation skid steers also offer customers a machine that uses up to 16% less fuel with no loss in productivity compared to the nearest competitor, saving customers over 1000 gallons of diesel per year, equivalent to a saving of over $3,000 per year. The JCB 8085 midi excavator is also on display, a product offers customers average fuel savings of 20%. JCB's Ecomax T4 engine, developed to meet Tier 4 Interim emissions legislation, also delivers a 10% improvement in fuel consumption.